THE Bureau of Internal Revenue (BIR) has exceeded its tax collection target for October 2022.
In a statement, the BIR said it collected a total of P186.759 billion in taxes in October, 1.48 percent higher than its target of P184.030 billion and 15 percent higher than the collection during the same month in 2021.
But the BIR said it is still lagging behind its P1.974 trillion target for January to October 2022.
It said the agency collected only P1.919 trillion over the past 10 months, three percent short of its 10-month target but 12 percent higher than the target during the same period last year.
Earlier, Finance Secretary Benjamin Diokno expressed optimism that the government will overtop its tax goal collection for the year.
He said the Bureau of Customs (BOC) has already collected P713.5 billion, up 35.81 percent year-on-year and 99 percent of the P721.5 billion full-year goal.
Diokno said the BOC revenue surplus will “definitely” cover the shortfall of the BIR. (SunStar Philippines)