BIR posts P828B tax collection

June 13, 2018 11:02 AM

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THE Bureau of Internal Revenue (BIR) collected P827.91 billion for the first five months of the year.

This is P24.91 billion more or 3.10% higher than the goal of P803.00 billion set for the period.

Likewise, the BIR posted a growth rate of 14.76% or an increase of P106.51 billion compared to the 2017 collection for the first five months of P721.40 billion.

The surplus is pegged at a higher rate of 3.76% or P29.38 billion minus the goal from non-BIR operations, which the Bureau has no control. For the month of May 2018, the BIR collected P172.49 billion in tax revenues compared to the goal of P166.75 billion, which translates into a surplus of P5.74 billion or a growth rate of 3.44%.

As against the May 2017 collection of P158.81 billion, the Bureau recorded a growth rate of 8.61% or an increase of P13.67 Billion.

Minus the goal from non-BIR operations (over which the Bureau has no control), the surplus is pegged at a higher rate of 4.31% or P7.02 billion.

The Bureau posted an achievement rate of 103.10% for the period January to May 2018 and 103.44% for the month of May 2018.

Source: journal.com.ph

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