TAX collections by the Bureau of Internal Revenue (BIR) rose at a double-digit rate year-on-year in November, boosting the year-to-date tally, on the back of improved monitoring and collection activities, the bureau disclosed over the weekend.
In a report to the Department of Finance (DOF), the BIR said it collected P157.29 billion in tax revenues in November, up 15.3 percent from the year-earlier level of P136.37 billion.
It attributed the collection increase mainly to the streamlined processes that have improved efficiency in monitoring and collecting taxes, particularly the reduction of documentary requirements for one-time transactions and monitoring of process workflow of the agency’s offices.
The BIR, however, did not provide a breakdown for its November collections.
Cumulative BIR collections from January to November 2016 reached P1.45 trillion, which is 9.6 percent or P127.41 billion higher than last year’s collection for the same 11-month period.
For full-year 2016, the bureau has set a lower revenue target of P1.6 trillion against the P2.026 trillion set by the previous administration. This means the bureau will only need to collect P15 billion in December to hit its full-year target.