Excise tax collections from large taxpayers in the first half of 2020 surpassed the Bureau of Internal Revenue’s target for the period but dropped from a year earlier, according to the Department of Finance.

In a statement on Monday, the Finance department said preliminary data showed BIR collections from excise taxes paid by large taxpayers for the first six months of the year hit P128.59 billion, breaching the revised goal of P113.64 billion by P14.95 billion or 13.15 percent “despite the severe economic downturn triggered by the coronavirus pandemic.”

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