'No new taxes' as revenues soar

President Marcos' chief economic manager stated that the government's current revenues are more than sufficient to cover its expenses even without imposing new taxes, as total tax collections grew by double digits to over P930 billion in the first quarter of the year.

- BY DERCO ROSAL

Tax collections climbed by nearly 14 percent in the first three months of 2025, totaling P931.5 billion. By value, the government had increased its tax revenues by P111.1 billion from P820.4 billion a year ago.

As the Philippines' largest tax-collection agency, the Bureau of Internal Revenue (BIR) had the biggest share at P690.4 billion, over 74 percent of total tax collection.

The BIR's collections increased by nearly 17 percent from last year's P591.8 billion.

Meanwhile, the Bureau of Customs (BOC), the second-largest tax collection agency, raised P231.4 billion, an almost six-percent growth from last year's P218.9 billion.

"This was primarily due to both revenue agencies' continued success in strengthening tax administration, digitalization, and enforcement efforts," the DOF said in a statement released April 29.