BIR exceeds September target

ABS-CBN News

Posted at Oct 14 2010 04:31 PM | Updated as of Oct 15 2010 08:44 AM

MANILA, Philippines - For the first time this year, the Bureau of Internal Revenue (BIR) exceeded its monthly target as it collected P60.96 billion taxes in September, P1.06 billion more than its goal of P59.89 billion.

The September figure was also 8.4% higher than the P56.24 billion booked in the same month last year.

“Last month, the BIR’s collections grew by 17%, the highest in about 28 months. This month we exceeded our target, the first time since January. This just shows that the bureau’s performance continues to improve," said BIR Commissioner Kim Henares.

However, for the January to September, the BIR generated a total of P607.33 billion, lower than its P638.07 billion target for the 9-month period.

BIR collections are categorized into 2: operations and non-operations, the latter being taxes generated from the sale of Treasury bills and bonds.

Collections resulting from BIR operations, which account for 92% of the total, surpassed the goal by 4%, while collections from the sale of securities fell short by 20%, the BIR said.