DOF chief pushes for P2.133-T goal for BIR-A A +A
Tuesday, August 5, 2014
FINANCE Secretary Cesar Purisima challenged Bureau of Internal Revenue (BIR) Commissioner Kim Jacinto-Henares to aim for a P2.133 trillion revenue collection for 2016.
Purisima said he is confident that the agency can still surpass its recent achievements in increasing revenues and provide the government necessary funds to finance its programs.
“Clearly, we have to continue the reform initiatives,” he said pointing out that “there are still major segments that can increase (tax) compliance.”
The agency’s 2014 collection goal is Php1.46 trillion while its proposed 2015 target is Php1.721 trillion and the 2016 proposed goal is P2.073 trillion.
Purisima said he will propose to the inter-agency Development Budget Coordination Committee (DBCC) the increase in the BIR target citing that this is an “aspirational goal.”
The BIR collects about 70 percent of government revenues.
As of end-June this year, the agency posted an eight percent year-on-year rise in revenues to Php643.21 billion from year-ago’s Php593.7 billion.
Meanwhile, Internal Revenue Commissioner Kim Jacinto-Henares said she has been given time to explain her thoughts on BIR’s collection goal but the decision remains with the economic managers.
“They always tell me that the goal is aspirational,” she said.
Henares said she always tell BIR personnel not to think about the pressure of collecting higher targets.
”This is what I tell everybody: let us work hard (and) not think about it. Work hard until the end of December. If we fall short, we explain. But do not think about falling short today. Just work and work and work. Do not look for excuses. There’s a difference between explanation and excuse,” she said.
Meanwhile, the BIR on Friday formally launched the Internal Revenue Stamps Integrated System (IRSIS).
The system is expected to ensure that the government collects the proper taxes from “sin” products namely tobacco and alcoholic beverages, except for beer products. (PNA)
Published in the Sun.Star Cagayan de Oro newspaper on August 05, 2014.