BIR misses collection target in January

ABS-CBN News

Posted at Mar 14 2014 01:39 PM | Updated as of Mar 14 2014 09:39 PM

MANILA, Philippines - The Bureau of Internal Revenue's collection breached the P100-billion mark in January, but fell short of its monthly target.

The BIR said it collected P104.15 billion in revenues in January, 10% higher than the P94.72 billion it collected in the same period last year.

However, this was still below the P113.6 billion collection target for January 2014.

In January, BIR collections from operations jumped 12% to P99.61 billion. Revenues from non-BIR operations fell 20% to P4.54 billion.

The BIR said collections made by the regional offices rose 17% P39.03 billion in January, continuing its double-digit growth performance.

Collections made by the Large Taxpayers Service increased 9% to P60.59 billion in January.

Last year, the BIR missed its collection target by 3%, having collected P1.217 trillion in revenues.

This year, the BIR's collection target is P1.456 trillion.