The Bureau of Internal Revenue (BIR) collected P2.34 trillion in 2022, falling short of its full-year revenue goal.
“While the collection did not meet its target, a 12.21 percent growth was recorded from the previous year,” the BIR said in its 2022 accomplishment report presented during the agency’s National Tax Campaign Kick Off held in Pasay City yesterday.
“Despite the challenges, the bureau collected P2.34 trillion, made headway towards digitalization and excellently executed programs,” BIR commissioner Romeo Lumagui Jr. said in his speech during the said event.
According to the government’s Budget of Expenditures and Sources of Financing for 2023, the BIR had a collection goal of P2.39 trillion last year.
For 2023, the revenue-generating agency seeks to rake in P2.67 trillion, around 14.1 percent higher versus the amount generated in 2022.
By tax type, the biggest share in 2022 was accounted for by income tax with P1.24 trillion, followed by value added tax with P462.63 billion, excise tax with P309.92 billion, other taxes with P205.23 billion and percentage tax with P116.93 billion.
“Banks continue to give the largest contribution to the overall collection, followed by tobacco and alcohol. However, sugar and construction sectors posted the biggest growth in 2022, with 90 percent and 48 percent growth, respectively,” the BIR said.
Under its Run After Tax Evaders program, the BIR said 115 cases were filed at the Department of Justice, resulting to a P5.1 billion liability. An additional 38 cases were filed at the Court of Tax Appeals that collected P5.32 billion.
The BIR was also able to broaden its tax base as a result of its tax compliance verification drive.
In his speech during the same event, Benjamin Diokno, finance secretary, said the emerging tax effort for 2022 now stands at 14.6 percent.
“We are on track to achieving our goal to raise the tax effort to 17.1 percent by 2028,” Diokno said.
“The revenue collecting agencies must continuously strengthen their capabilities to ensure fiscal stability amid volatilities,” he added.
