BIR eyes P2.039-T collection goal for 2018

The Bureau of Internal Revenue (BIR) has set a collection of goal of P2.039 trillion this year, up 11.5 percent from P1.829 trillion in 2017.

The revenue collection goal, however, is tentative, BIR Commissioner Caesar Dulay said during a press conference on Thursday 

“We still have to validate this with the Development Budget Coordination Committee,” he said.

The committee expects the Tax Reform Acceleration and Inclusion law to contribute around P90 billion this year instead of an earlier estimate of P134 billion.

Asked if the collection goal for 2018 is achievable considering the slimmer revenue from the tax reform initiative, Dulay said the bureau must work in order to hit its target.

“It’s the goal to support government. It’s something that we have to work on to support the government’s programs ... We have to work more,” he said.

In January to November 2017, the BIR collected P1.628 trillion, up 11.93 percent higher from P1.454 trillion in the same period last year. — VDS, GMA News