BIR misses, Customs beats May tax collection targets

Tax collections by the Bureau of Internal Revenue (BIR) missed the monthly target for May despite a year-on-year increase, while collections by the Bureau of Customs (BoC) exceeded the target set for the period, the two government agencies said in separate reports on Wednesday.

Data released by the BIR showed it collected P157.36 billion in tax revenues in May, up 3.4 percent or P5.22 billion from a year earlier. But the amount fell short of the P175.08-billion collection goal for the month by P17.72 billion or 10.1 percent.