TAX COLLECTIONS picked up by double-digit pace last month but fell short of targets, the Department of Finance (DoF) said.

taxpayers
Taxpayers flock to the Bureau of Internal Revenue office in Quezon City on the last day of filing non-paying taxes in this file photo. BW FILE PHOTO

The Bureau of Internal Revenue (BIR) raked in P134.18 billion in July, up 14% from P117.61 billion a year ago but still a tad short of a P134.72-billion target for last month. “… BIR… performance is marginally slower than target. Actually, we are only short… by about P500 billion,” Mark Dennis Y.C. Joven, assistant secretary for revenue operations, told reporters at the DoF head office in Manila on Friday last week.

He attributed BIR’s collection hike to the P3.44-billion initial payment of a P25-billion tax settlement which Japan Tobacco International made on July 20 on behalf of Mighty Corp. as part of a deal to acquire the latter’s assets.

The Bureau of Customs (BoC), Mr. Joven said, collected P34.82 billion in July, up 12.35% from the year-ago P30.99 billion but 11% short of a P39.18-billion target.

July took year-to-date collections to P987.790 billion for BIR, 9.65% more annually and 54% of its P1.829-trillion target this year, and to P246.980 billion for BoC, 11.48% more than a year ago and 52.78% of its P467.9-billion full year goal. — Elijah J. C. Tubayan

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