The Bureau of Internal Revenue (BIR) announced on Tuesday it had trimmed its collection goal for this year to P2.26 trillion as the negative impact of the enhanced community quarantine (ECQ) dragged its year-to-date collections.
In a revenue memorandum, BIR Commissioner Caesar Dulay said the revised amount was 96 percent lower than the previous goal of P2.5 trillion.
It is also 3 percent smaller than the P2.33 trillion the agency collected in full-year 2019.
Dulay said his bureau’s collection target for this year was made up of the P2.20-trillion goal for BIR operations and the P54.58-billion target for non-BIR ones.
For April alone, the agency expects to collect P74.46 billion.
This comes after the Department of Finance said the Luzon-wide lockdown pulled down BIR collections as of mid-April.
Actual BIR collections from January 1 to April 17 reached P480.64 billion, a 32-percent decline from the collections made last year.
The Finance department said the latest figures were the direct impact “of the community quarantine measures in Luzon and other parts of the country that have also prompted the agency to extend the deadlines for the filing and payment of income and other taxes to May.”
On March 16, the government placed Luzon under ECQ to contain the spread of coronavirus disease 2019 (Covid-19) in the country. Originally set to be lifted on April 12, the government later extended it to April 30. Last week, the government again extended the lockdown in Metro Manila and other provinces until May 15.
First emerging in the city of Wuhan in China’s Hubei province in December, the coronavirus has spread to more than 213 countries and territories, infecting at least 2,883,603 people, of which 198,842 died, according to World Health Organization data. In the Philippines, the number of confirmed Covid-19 cases has risen to 7,958 as of Tuesday. Of this, 975 recovered and 530 died.
Finance Secretary Carlos Dominguez 3rd has said estimates by the Development Budget Coordination Committee show that the decrease in revenues would be around P286.4 billion if the economy posts zero growth this year as a result of the pandemic.