BIR falls short of Feb. collection goal 

The Bureau of Internal Revenue on Tuesday reported tax collections in February reached  P74.52 billion in February, up P5.82 billion or 8.48 percent from a year earlier but short of the target for the month.

 

The collection last month was P2.598 billion or 3.37 percent short of the P77.12 billion goal, BIR data showed. 

 

The bureau also missed its collection goal of  P100.9 billion last January, after raking in only  P94.74 billion .

 

The Department of Finance gave the BIR a revised collection target of  P1.253 trillion this year after factoring in additional revenues from the revised sin tax law

 

The Finance Department earlier gave the BIR a revenue collection target of, up P187.6 billion or 17.6 percent from the 2012 goal of P1.066 trillion.

 

Last year, the bureau missed its revenue goal by P8 billion, collecting only P1.058 trillion. — VS, GMA News