BIR surpasses collection target by 5.09% for month of July

THE Bureau of Internal Revenue (BIR), under the leadership of Commissioner Romeo D. Lumagui, Jr., collected ₱ 273.134 Billion (net of tax refund) in July 2023, surpassing its collection target by 5.09% or ₱ 13.224 Billion for the said month. Said collection is higher by 38.37% or ₱ 75.744 Billion compared to tax collections for the same period last year.

In terms of cumulative collection from January to July 2023, the BIR’s Total Gross Collection stood at ₱ 1.492 Trillion (net of tax refund), which is higher by 12.21% or ₱ 162.404 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 ₱ 303.500 Billion or 12.99% 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 our newly-forged partnership with multi-sectoral groups for the enhancement of taxpayers’ service, we are confident that the BIR can attain, if not surpass, its annual collection target this year”, said Commissioner Lumagui.