BIR exceeds July collection target
MANILA, Philippines - The Bureau of Internal Revenue exceeded its tax collection goal by P58.52 million in July.
The BIR, which accounts for two-thirds of the country's total tax collection, said it collected P119.94 billion in July, 19.82 percent up from the same month a year ago.
Collections from BIR operations rose 21.61 percent to P115.45 billion in July, surpassing the target by P2.06 billion.
Collections from non-BIR operations reached P4.49 billion in July, nearly 13 percent lower than a year ago. This amount was also P2 billion short of the July goal.
The BIR said collections by its regional offices hit P37.92 billion in July, 15 percent more than collections made a year ago. However, this was P1.95 billion lower than the July 2014 goal.
Collections by the Large Taxpayers Service grew by 25 percent to P77.54 billion in July, exceeding its goal by P2.44 billion.
The BIR aims to collect P1.456 trillion this year.