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Bacolod City, PhilippinesMonday, April 22, 2013
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BIR revenue collection
up 6.56 percent in 1Q

The Bureau of Internal Revenue reported recently that it has collected P244.1 million in tax revenues in the first quarter, 6.56 percent higher than the same period last year.

Of the total collections for the three-month period, P233.41 came from BIR operations.

The remaining P10.65 came from non-BIR operations, or taxes due from government securities issued by the Bureau of the Treasury.

For March alone, the BIR collected P74.86 billion, significantly lower than the P89.03 billion target for the month and lower than the P75.2 billion revenues in the same month in 2012.

BIR Commissioner Kim Jacinto-Henares said that this can be explained by the fact that in March, the BIR have only three weeks to collect given the holidays and they have some big ticket collections which were not yet collected.

Henares added that she is confident that the BIR can make up for the shortfall in the next few months.

The bureau is mandated to collect P1.253 trillion this year.*PNA

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