August 2022 tax collection exceeded goal by 4.46%, says BIR

The Bureau of Internal Revenue (BIR) said Friday it has surpassed its tax collection target for the month of August.

In a statement, the BIR reported a total collection of P228.938 billion last month against a goal of P219.172 million.

The taxman posted a collection surplus of P9.766 billion or 4.46% higher than the target.

Likewise, the BIR’s August 2022 collection was 23.03% or P42.860 billion wider compared to August 2021.

For the January to August 2022 period, the taxman said it collected P1.559 trillion, up 12.25% or P170.168 billion year-on-year.

“Said collections represent more than 98% attainment of the BIR’s emerging goal of P1.586 trillion for the said period,” the agency said.

Internal Revenue Commissioner Lilia Guillermo earlier said the BIR is eyeing a 98% fully-electronic filing of taxes in 2022. 

Finance Secretary Benjamin Diokno also said that digitalization will be the best solution to eradicate corruption in the country’s two main revenue collecting agencies — the BIR and the Bureau of Customs (BOC). — RSJ, GMA News