Tax collections by the Bureau of Internal Revenue (BIR) rose at a double-digit rate year-on-year in June but fell short of the monthly target, the bureau disclosed on Friday.
Data released by the BIR showed the agency collected P109.55 billion in tax revenues in June, up 16.39 percent or P15.43 billion from the year-earlier level.
However, the bureau missed its P117.81 billion collection goal for the month, falling short by P8.26 billion or 7 percent.
The year-to-date collections growth in June was an improvement over the previous month.
BIR collections in May were virtually flat, just P200 million higher than the same month a year earlier. Also, the BIR missed its collection target in May by nearly P30 billion, recording P128.5 billion in collections against the target of P158.1 billion.
The BIR did not give a direct explanation for missing its June collection target but rather focused on the year-on-year growth in its revenue.
A breakdown of the June tax revenue figure shows that collections from BIR operations, or regular tax revenues, reached P107.09 billion, higher by 16.87 percent or P15.46 billion from the amount collected in June 2014.
Non-BIR operations’ collections, such as taxes imposed on government securities sold by the Bureau of Treasury, stood at P2.46 billion, lower by 1.14 percent from the comparative year-earlier period.
Collections by the BIR’s regional offices rose 17.49 percent to P39.05 billion, or P5.81 billion more than the collections made in June 2014.
The Large Taxpayers Service collected P68.04 billion, higher by P9.65 billion or 16.52 percent than the collections made a year earlier.
Cumulative BIR collections from January to June 2015 reached P705.87 billion, well below the year-to-date target of about P812.39 billion.
For full-year 2015, the bureau is tasked to collect P1.676 trillion.