BIR to surpass collection target
THE Bureau of Internal Revenue (BIR) is confident of surpassing its September collection goal of P59.894 billion by atleast10 percent or a high of 17 percent due to an enlightened workforce and a reformed taxpayers’ base.
BIR Commissioner Kim Jacinto-Henares yesterday said the positive outlook could be attributed to the realization of revenue employees and the taxpaying public that government is serious in its anti-corruption drive, especially in tax collection.
“I think slowly, people understand that we’re not business as usual,” Henares said.
Henares said using the revenue agency’s August performance and the initial data for September as indicators, there’s a strong chance that the BIR would hit its target for this month or even surpass it.
“Given the August performance and the September outlook, we are confident of reaching our original goal of P830 billion,” she said.
The BIR was assigned a higher full-year goal of P860 billion by the new economic managers expecting robust revenue growth in 2010 due to a recovering economy, which has just grown 7.9 percent in the second quarter.
Henares said compared to their performance last year, the BIR actually surpassed or increased its actual collection for July this year by 10 percent and by 17 percent in August.
“The September (collection) increase should be 10 to 17 percent,” she said.
The September target is already 6.5 percent bigger than the P56.237 billion collection goal for the same month in 2009.
The government reported a revenue surplus of P1.3 billion in August from having collected P107.8 billion in revenues while spending P106.5 billion on the back of controlled spending for the month.
The August surplus was a reversal of the P22-billion deficit recorded in the same month of 2009.
The P1.3-billion surplus likewise trimmed the deficit in the first eight months to P228.1 billion from the P229.4 billion recorded in the period of January to July.
The January to August funding shortfall, however, was still 8.6 percent higher or P18.1 billion above the P210-billion deficit recorded in the same eight-month period in 2009.
Revenues for the first eight months of the year reached P802.8 billion, up 8.6 percent from the same period last year. Total expenditures were totalled at P1.004 trillion against last year’s P908.5 billion.
The BIR contributed P546.4 billion from January to August from P500.8 billion last year. For August, the BIR collected P79.1 billion against the P67.6 billion in 2009. The revenue agency missed its monthly target of P87 billion.
The Bureau of Customs (BOC) posted a lower collection of P17.8 billion for the month of August, down 2.3 percent compared to the same period in 2009, and also missing its target of P26.71 billion for last month.
The deficit for the first eight months ending August is already P96.9 billion short of the programmed P325 billion for the year or 11.6 percent away from the full-year deficit goal. Dino Ng