BIR misses August collection target

Collections by the Bureau of Internal Revenue reached only P96.76 billion in August, missing by P6.89 billion its P103.65-billion collection goal for the month.

 

Compared to year-earlier numbers, the bureau’s collections last month were up by P8.83 billion or 10.04 percent, the BIR said in a statement Friday.

 

The latest tax-take brought the January to August collections  to P701.43 billion, up by P81.72 billion or 13.19 percent from a year earlier.

 

The bureau needs to collect an estimated P365 billion during the remaining months of the year or P91.25 billion on average – September to December – to meet its 2012 collection goal of P1.06 trillion.

 

The BIR accounts for 70 percent of total government revenues. — VS, GMA News