Speaker to BIR: Economic growth rests on hitting targets

Speaker Martin Romualdez urged the Bureau of Internal Revenue (BIR) to ensure that the tax agency hits its targets this year, emphasizing that "hitting revenue targets means the government can fund its spending program, which will enable growth."

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"Year on year, the BIR's revenue collections grew by 17 percent this year. That's welcome news, and I credit the BIR for that," Romualdez said.

"But 17 percent growth from total collections last year will mean the BIR will fall short of the P3.05-trillion target set by the economic managers," the Speaker added.

The BIR collected P2.516 trillion in 2023. An increase of 17 percent will bring total collections this year to P2.944 trillion, still slightly below the target.