Tax collection target likely to be revised

The government may have to revise its revenue collection target for this year following a slowdown in economic growth, according to Bureau of Internal Revenue Commissioner Romeo Lumagui Jr.

- By LOUISE MAUREEN SIMEON

During the Kapihan sa Manila Bay forum yesterday, Lumagui did not dismiss the possibility of a revision to the agency's P3.232-trillion collection target for 2025.

"It's possible given the actual GDP (gross domestic product) growth," Lumagui said.

"It is being discussed, what is the correct collection target for the BIR, but as of now it is still at the P3.2-trillion level. No changes yet," he said.

Any changes in the macroeconomic targets of the government will be decided by the Cabinet-level Development Budget Coordination Committee.

The DBCC is expected to hold its meeting on Monday, June 23.