MANILA — The Bureau of Internal Revenue said on Thursday it reached its target in May due to an almost 10 percent increase in collections.

From January to May 2023, the BIR's total gross collection hit P1.056 trillion, higher by 9.94 percent compared to the tax collections for the same period last year, the BIR said in a statement.

The BIR said its collections exceeded the target for the period by P1.331 billion.

For the entire 2023, the BIR's collection target was set at P2.599 trillion, higher than the actual 2022 total by 10.95 percent, it said.

“With the intensification of the Bureau’s tax enforcement activities, specifically on the campaign against sellers and buyers of fake receipts, we are confident that the BIR can attain, if not surpass, its annual collection target this year”, said BIR Commissioner Romeo Lumagui Jr said.

Lumagui has spearheaded various tax collection campaigns to raise the BIR's revenue collections.

— With a report from Jessica Fenol, ABS-CBN News

• BIR says tax collection exceeded target in August 2022
• 'Ghost corporations' face P25.5-B tax raps for fake receipts

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