Gov’t revenue shows mixed results—DOF

Halfway through fiscal year (FY) 2025, the government’s revenue performance is showing mixed results, as the Bureau of Internal Revenue (BIR) is seen to meet its target while the Bureau of Customs (BOC) is projected to fall short—a familiar scene from history.

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Finance Secretary Ralph G. Recto disclosed to reporters last week that the BIR had collected a total of P200.5 billion in June. This was 16.2-percent higher than the P172.5 billion collected in the same month last year.

Recto attributed this double-digit growth to the usual drivers in the expansion of tax revenues, including corporate income tax (CIT), excise tax on tobacco products, personal income tax (PIT), taxes on government securities, and taxes on banks and financial institutions.

Combining with official January-to-May data from the Bureau of the Treasury (BTr), the BIR’s total collections for the first half of the year reached P1.55 trillion, up from P1.36 trillion a year ago.