BIR says fewer tax collections last year, but more tax-paying businesses | ABS-CBN
ADVERTISEMENT

Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
BIR says fewer tax collections last year, but more tax-paying businesses
BIR says fewer tax collections last year, but more tax-paying businesses
ABS-CBN News
Published Jan 25, 2021 06:50 PM PHT

MANILA – The Bureau of Internal Revenue said Monday it collected P1.94 trillion taxes last year, 11.23 percent less than the P2.19 trillion in 2019 as taxpayers were unable to pay taxes amid the pandemic.
MANILA – The Bureau of Internal Revenue said Monday it collected P1.94 trillion taxes last year, 11.23 percent less than the P2.19 trillion in 2019 as taxpayers were unable to pay taxes amid the pandemic.
But more business taxpayers were registered in 2020, it added, seeing a 6.15-percent increase to 4.37 million taxpaying businesses.
But more business taxpayers were registered in 2020, it added, seeing a 6.15-percent increase to 4.37 million taxpaying businesses.
The bureau automated collections amid the COVID-19 crisis, saying that 86 percent of its total collections were done online.
The bureau automated collections amid the COVID-19 crisis, saying that 86 percent of its total collections were done online.
Of the 22.86 million tax returns last year, 94 percent or 21.5 million were filed online, the BIR said.
Of the 22.86 million tax returns last year, 94 percent or 21.5 million were filed online, the BIR said.
ADVERTISEMENT
Finance Secretary Carlos Dominguez said the lower tax collections was understandable, as the pandemic dragged the economy resulting in an estimated 9.5-percent contraction for the whole year of 2020.
Finance Secretary Carlos Dominguez said the lower tax collections was understandable, as the pandemic dragged the economy resulting in an estimated 9.5-percent contraction for the whole year of 2020.
RELATED VIDEO
Read More:
BIR
Bureau of Internal Revenue
tax
taxes
tax collection
tax payments
taxpayers
businesses
online payments
contactless payments
ADVERTISEMENT
ADVERTISEMENT