BIR continues to miss target in April

MANILA, Philippines – The Bureau of Internal Revenues (BIR) collected P156.1  billion in tax revenues in April – P7.12 billion or 4.78% more year-on-year – but still below its target collection for the month.

The BIR’s collection target for April is P176.51 billion, which it had even hoped to exceed.

Despite its continued inability to meet its collection target so far this year, the BIR remained confident of meeting its full-year collection target of P1.456 trillion in 2014.

“The Bureau of Internal Revenue still believes that it will be able to recover during the remaining 8 months.  Among others, the BIR is embarking on an intensified audit of the books of taxpayers that show a drop in their tax payments despite an increase in their revenues,” the BIR said in a statement.

In April, collections from BIR operations amounted to P153  billion, P7.35  billion or 5.05% more than collections made in April 2013.  

Collections from non-BIR operations amounted to P3.12 Billion, P0.23 Billion or 6.76% less than collections made in April 2013.  

The BIR said that its April collection “was affected by the low growth rate of taxes paid by taxpayers under the jurisdiction of the Large Taxpayers Service and corporate taxpayers in the National Capital Region.”

It said also that the gross revenues of the taxpayers in April “did not translate to tax revenues” due to tax incentives, which it said will be addressed through the passage of the Fiscal Incentive Rationalization Bill, an administration priority measure. – Rappler.com