BIR posts revenue surplus in October
The Bureau of Internal Revenue (BIR) posted back-to-back surpluses in the last two months, ending October with total collections of P63.564 billion, exceeding its monthly goal of P62.55 billion by P1.014 billion.
Year-on-year, the October collection was 15.74 percent above the actual revenues collected in the same month last year, which was P54.92 billion.
In September, the revenue agency, which collects 70 percent of the total tax revenues, also posted a surplus of P1.06 billion with P60.96 billion collection against its target of P59.89 billion.
BIR Commissioner Kim Jacinto-Henares yesterday attributed the surplus to the improved performances of its regional offices and the Large Taxpayers Service (LTS).
She said the two tax units “contributed significantly” to the BIR’s October performance.
The Regional Offices collectively accounted for P26.807 billion in revenues, marking an increase of P4.731 billion, or 21.43 percent, over their collections for October 2009, and an excess of P559 million, or 2.13 percent, over their goal for the month.
The LTS on the other hand, contributed P35.149 billion to the agency’s October 2010 collections, registering an excess of P2.426 billion or 7.42 percent over the LTS’ October 2010 goal.
“Everyone is working hard now to show that they are performing,” Henares said.
The BIR chief nevertheless said attaining the revised full year target of P860 billion remains a big struggle. (Dino Ng)