BIR collections up at P1.16T as of end-Aug

0

Increased efficiencies and taxpayer cooperation have allowed the Bureau of Internal Revenue (BIR) to post year-on-year gains in collection terms, officials said on Friday.

In a press conference with various business groups, BIR Deputy Commissioner Nestor Valeroso said the bureau had netted P1.16 trillion from January to August, 9.7 percent higher compared to the same period last year.

With the BIR having collected P986.09 billion as of end-July based on latest official data, this means the bureau netted P174.9 billion last month, up 11 percent from a year earlier.

“It is because of the improvement in the efficiency of collection of taxes. Part of this is the cooperation of taxpayers also,” Valeroso said.

The BIR, he said, has to collect P167 billion every month until December this year to hit an internal target of P1.829 trillion for 2017.

Officially, the bureau needs to net P1.783 trillion as targeted by the Development Budget Coordination Committee (DBCC).

“As far as we are concerned, we are to meet the P1.829 trillion because it is in the attrition law,” Valeroso said, referring to collection thresholds that revenue officials need to meet to avoid sanctions.

“Meanwhile, we are aiming high so we can meet the DBCC goal,” he added.

In line with this, the heads of different business organizations and chambers of commerce pledged to support the BIR’s Seal of Honesty Certification Program, which aims to improve collections by promoting a culture of
integrity and honesty in paying taxes.

They also confirmed their support for President Rodrigo Duterte call to increase tax collections to help rebuild Marawi City and areas hit by natural calamities.

BIR Commissioner Caesar Dulay committed to continue ongoing tax administration reforms to further improve revenue collections.

He also asked the taxpaying public to help by paying the right taxes correctly and on time, and not line the “pockets” of corrupt BIR personnel.

Share.
loading...
Loading...

Please follow our commenting guidelines.

Comments are closed.