BIR, BOC collections pick up in June, but H1 revenues down

Tax collections of attached agencies of the Department of Finance (DOF) picked up in June, but not enough to bring year-to-date collections up from the previous year.

According to data released by the DOF on Thursday, the Bureaus of Customs (BOC) and Internal Revenue (BIR) collected a combined total of P270.77 billion in June.

This is 28.03% or P59.28 billion higher than the P211.50 billion collected in June 2019.

The BIR collected P228.23 billion, up by P68.04 billion or 42.47% from the P160.2 billion in June 2019. This is 19.85% or P56.57 billion lower than the P284.8-billion target.

The BOC collected P42.54 billion in June, P1.8 billion or 4.42% higher than the P40.74-billion target for the month.

Year-to-date, however, collections of both agencies were recorded at P1.155 trillion, down 16% or P220.47 billion from P1.375 trillion in January to June of 2019.

It is also lower than the P1.187-trillion collection target by 2.76% or P32.73 billion.

"[A]n unprecedented coronavirus pandemic continued to pummel the economy  and restrict business activity in most parts of the country," the DOF said in an emailed statement.

Metro Manila and other "high-risk" areas were placed under an enhanced community quarantine (ECQ) from March 17 to May 15, followed by a modified enhanced community quarantine (MECQ) until May 31.

This was followed by a general community quarantine (GCQ) put in place from June 1 to 15, and has since been extended until July 15. —LDF, GMA News