The Philippines missed its July revenue target by 8.2% despite a 12.58% increase compared to last year.

The Philippines missed its end-July revenue collection target by 8.2%, with the Bureau of Internal Revenue (BIR) collecting P1.68 trillion, falling short of the P1.83-trillion goal. Despite this, BIR revenues increased by 12.58% compared to the same period last year. Finance Secretary Ralph G. Recto convened BIR and BoC to discuss plans for meeting targets, including digitalization, tax enforcement, and pursuing delinquent accounts. The BoC will focus on improving duties and taxes on importation and strengthening border protection.

August 18, 2024
3 Articles