• Internal revenue eyes to collect P1.6 billion by 2015

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    The Bureau of Internal Revenue (BIR) on Friday affirmed its commitment to double its collection to about P1.6 billion by 2015, using 2010 as its base.

    On the sidelines of the 109th anniversary celebration of the bureau, Internal Revenue Commissioner Kim Jacinto-Henares cited some factors that the BIR monitors to accelerate its tax collections.

    “One of our focus is really the estate tax, broadening the tax base—the number of people registered especially the self-employed and the professionals, and increasing their average,” she said.

    Henares added that the other method that can be done is to look at the cross verification of data, such as the value-added tax and withholding tax, and suppliers of the government.
    She also said that the bureau is working hard to try to reach the goal by 2015.

    “Last year, toward October to November we are down by P25 billion, but in December, we were able to erase substantially a lot of it and were only short by P8 billion,” she said.

    However, Henares admitted that there is a portion that the bureau has no control, which is the non-BIR operations.

    For this year, Henares said that the bureau’s collection target remains at P1.253 trillion, 17.59 percent higher than the previous year’s P1.058 trillion.

    “We’re still trying to still hit the P1.253 trillion. Whatever people are saying, that is where our eyes at. If we hit it then very good, if we don’t, then we explain why,” she added.

    For the first half of 2013, the collection of BIR went by 13.92 percent, reaching P593.71 billion.

    Collections from BIR operations went up to P574.84 billion, while collections from non-BIR operations amounted to P18.87 billion.

    Collections of excise tax on sin products for the first semester of 2013 reached to P38.54 billion.

    Mayvelin U. Caraballlo

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