BIR Collection Hits P669 Billion in First Quarter

The Bureau of Internal Revenue (BIR) saw its tax collection rise to P669 billion in the first quarter on the back of improved value-added tax (VAT) take.

- By Louise Maureen Simeon

During the annual income tax return filing deadline on Tuesday, BIR Commissioner Romeo Lumagui Jr. said preliminary data showed that collections reached P668.79 billion from January to March. The amount is 13 percent higher than the P591.77 billion generated in the same period last year.

The first-quarter tax take is also near the P671.99-billion target for the three-month period. Lumagui said he is confident that the BIR would exceed the initial data as collections are still being consolidated with the Bureau of the Treasury.