The Bureau of Internal Revenue (BIR) has expressed confidence in achieving or even surpassing its annual collection target for the current year, following a significant increase in collection during the first five months of 2023.
According to the BIR, there has been a notable growth of almost 10 percent in collection during the January to May period, indicating a positive trajectory towards its fiscal goal.
BIR Commissioner Romeo D. Lumagui, Jr. attributed this progress to the intensified tax enforcement activities, particularly targeting the sale and purchase of counterfeit receipts.
During the aforementioned period, the BIR’s total collections amounted to P1.056 trillion, reflecting an increase of 9.94 percent. Moreover, the bureau surpassed its collection target for the period by P1.331 billion.
The BIR has set a revenue goal of P2.599 trillion for 2023, representing a noteworthy increase of 10.95 percent or P256.444 billion compared to the actual collection in the preceding year.
