The Bureau of Internal Revenue (BIR) has surpassed its revenue goal in July, amid the agency’s improved tax enforcement operations.
In a statement, the BIR said it raked in P273.13 billion in July, exceeding its collection target by 5.09 percent or P13.22 billion for that month.
The collected amount in July is also higher by 38.37 percent or P75.74 billion compared to tax collections for the same period last year.
“With the intensification of the bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, and with our newly-forged partnership with multi-sectoral groups for the enhancement of taxpayers’ service, we are confident that the BIR can attain, if not surpass, its annual collection target this year,” BIR Commissioner Romeo Lumagui Jr. said.
In terms of cumulative collection from January to July 2023, the BIR’s total collections stood at P1.49 trillion.
The tax agency said the year-to-date figure is higher by 12.21 percent or P162.4 billion compared to tax collections for the same period last year.
For the entire year of 2023, the BIR’s collection target is set at P2.64 trillion. The full-year goal is higher by P303.5 billion or 12.99 percent versus the 2022 collected revenues.
