Home>Editorial>Miscellaneous>BIR attains collection target as of May 2023 – Collection grew by almost 10%
Miscellaneous

BIR attains collection target as of May 2023 – Collection grew by almost 10%

BIR Logo

The Bureau of Internal Revenue (BIR), under the leadership of Commissioner Romeo D. Lumagui, Jr., managed to increase its collection by almost 10% for the first five months of 2023, resulting to the attainment of its collection target for the period.

From January to May 2023, the BIR’s Total Gross Collection stood at ₱ 1.056 Trillion, which is higher by 9.94% or ₱ 95.454 Billion compared to tax collections for the same period last year. Compared to the Bureau’s collection target for the same period, a ₱ 1.331 Billion excess was also registered.

For CY 2023, the BIR’s collection target was set at ₱ 2.599 Trillion, which is higher than the CY 2022 actual collection by 10.95% or ₱ 256.444 Billion.

“With the intensification of the Bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, we are confident that the BIR can attain, if not surpass, its annual collection target this year”, said Commissioner Lumagui.

Journal Online
A collection of noteworthy information on various topics from the Philippines and the rest of the world.
https://journal.com.ph