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BIR surpasses collection target in October 2023

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Collection grew by 47%

The Bureau of Internal Revenue (BIR), under the leadership of Commissioner Romeo D. Lumagui, Jr., collected ₱ 274.429 Billion (net of tax refund) in October 2023, surpassing its collection target by 8.57% or ₱ 21.654 Billion for the said month. Said collection is higher by 46.94% or ₱ 87.670 Billion compared to tax collections for the same month last year.

In terms of cumulative collection from January to October 2023, the BIR’s Total Collection stood at ₱ 2.132 Trillion (net of tax refund), which is higher by 11.11% or ₱ 213.214 Billion compared to tax collections for the same period last year.

For CY 2023, the BIR’s collection target was set at ₱ 2.639 Trillion, which is higher by 12.99% or ₱ 303.500 Billion than the CY 2022 actual collection.

“With the intensification of the Bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, and with the continuous streamlining and digitization of the BIR’s core services, we hope to encourage all non-compliant taxpayers to comply fully with the provisions and requirements of the tax laws so we can attain, and even surpass, our annual collection target this year”, said Commissioner Lumagui.

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