MANILA - Damages caused by the recent typhoons to the Philippines have made the country's main tax agency lose hope in meeting its collection target for 2009.

According to Bureau of Internal Revenue (BIR) Senior Deputy Commissioner Joel Tan-Torres, the agency is likely to miss its full-year revenue target of P798.5 billion since storms "Ondoy" and "Pepeng" (international code names Ketsana and Parma, respectively) have severely affected business activities.

"From all indications, because of these developments, we may not be in the position to attain the whole P798.5 billion," Tan-Torres told reporters, adding that some businesses affected by the storms have filed for tax deductions.

The BIR has allowed taxpayers to file for an income tax deduction if their businesses have been greatly affected by the twin storms. The agency, however, requires that they show proof of the extent of damage to the property, and its condition before and after it was repaired or replaced.

The tax bureau will also assess each claim for losses to prevent unscrupulous individuals from taking advantage of the tax reprieve.

The BIR, which accounts for 75% of total government revenues, collected P557 billion for the first 9 months of the year. The amount is P39.2 billion short of the agency's target for the said period.

However, revenues for the month of September rose 12.3% to P100.7 billion from last year's P89.6 billion.