BIR exceeds collection target for 1st time in 20 years

Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. (Photo: Romeo “Jun” Lumagui Jr./Facebook)

By Anna Leah Gonzales, Philippine News Agency

MANILA – The Bureau of Internal Revenue’s (BIR) collection reached at least PHP2.84 trillion in 2024, exceeding its goal for the first time in 20 years.

“The BIR has collected at least PHP2.848 trillion for 2024. All credit belongs to the men and women of the BIR. Mabuhay po kayong lahat! (Long live everyone!)” BIR Commissioner Romeo Lumagui Jr. said in a statement on Wednesday.

“Our dedication to good governance reforms, manifested by our shift to a taxpayer-oriented agency, has increased the voluntary compliance of taxpayers. This goes to show that if government agencies improve their services, processes, and programs, our countrymen will do the right thing and pay their proper share of taxes,” he added.

Last year, the Development Budget Coordination Committee (DBCC) set a PHP2.848 trillion BIR revenue collection target for 2024.

Although the BIR reached its collection goal last 2020, the collection target then was substantially lowered due to the dire economic effects of the pandemic.

It is only in 2024 when the full collection target was reached, for the last 20 years.

Lumagui vowed that the BIR would continue its cooperation with the private sector and taxpayers.

“You are our partner in nation-building. Without your support, we could not have reached our PHP2.848 trillion goal. Marami pong salamat sa inyong walang-sawang suporta sa amin (Thank you for your unwavering support),” Lumagui said.