BIR exceeds collection target for January-May 2018

MANILA — For the first five months of the year, the Bureau of Internal Revenue (BIR) collected PHP827.91 billion. This is PHP24.91 billion more or 3.10 percent higher than the goal of PHP803 billion set for the period.

Likewise, the BIR posted a growth rate of 14.76 percent or an increase of PHP106.51 billion compared to the 2017 collection for the first five months of PHP721.40 billion.

Minus the goal from Non-BIR Operations (over which the Bureau has no control), the surplus is pegged at a higher rate of 3.76 percent or PHP29.38 billion.

For the month of May 2018, the BIR collected PHP172.49 billion in tax revenues compared to the goal of PHP166.75 billion which translates into a surplus of PHP5.74 billion or a growth rate of 3.44 percent.

As against the May 2017 collection of PHP158.81 billion, the Bureau recorded a growth rate of 8.61 percent or an increase of PHP13.67 billion.

Minus the goal from Non-BIR Operations (over which the Bureau has no control), the surplus is pegged at a higher rate of 4.31 percent or PHP7.02 billion.

The Bureau posted an achievement rate of 103.10 percent for the period January to May 2018 and 103.44 percent for the month of May 2018.