BIR misses September collection goal
MANILA, Philippines - The Bureau of Internal Revenue (BIR) collected P71.04 billion in tax revenues in September, 6.75% higher than the same period last year. However, the BIR missed its collection target for the month.
The BIR's collection from operations grew by 6.73% to P67.71 billion in September. On the other hand, collections from non-BIR operations jumped 7.06% year-on-year to P3.33 billion.
Collections by the regional offices exceeded its goal for the month by 3.22% to P26.22 billion. The amount was also 17.13% higher a year ago.
The Large Taxpayer Service's collection reached P41.49 billion, 1.06% higher from a year ago.
In the January to September period, the BIR collected P772.47 billion, 12.56% higher than a year ago, but still fell 3.5% short of the target.
BIR Commissioner Kim S. Jacinto-Heanres earlier said the agency can still meet its P1.066 trillion collection target for 2012, despite the shortfall.
Data from the BIR showed it needs to increase its collection in the remaining 4 months by 13% in order to meet its full-year goal.