An April 1, 2011 press release by the Bureau of Internal RevenueBanking on its tax administration efforts, the Bureau of Internal Revenue (BIR) is confident on meeting its goal this month as income tax return filers are expected to help the agency meet its highest collection goal for the year.
“I am always confident on meeting our goal, especially now that we have already started plugging the loopholes in our tax administration system,” BIR Commissioner Kim S. Jacinto-Henares said.
The BIR, the government’s main revenue agency that accounts for about 70 percent of state tax revenues, is tasked to collect a total of P105.12 billion this month, 15.26 percent higher than its actual take of P91.5 billion on April 2010.
From January to March, the BIR, through its 19 regional offices, conducted tax information drives nationwide to encourage taxpayers to pay the right amount of income taxes on or before the April 15 deadline to avoid congestion in BIR offices that may tend to distract the agency from doing other work.
The BIR chief however confessed that “Filipino psychology will tell that income tax filers usually rush during the last day of filing.”
“So really, it is too early to tell if we will be able to meet our target. What’s important however is that we are doing everything and working very hard to meet our goals,” she explained.
The Bureau of Customs, which accounts for a fifth of state revenues, on Thursday expressed confidence the agency will be able to meet its P63-billion collection goal for the first quarter of the year.
Jacinto-Henares, for her part, declined to provide details about BIR’s February collections, saying final figures will be released by the Bureau of Treasury.
As for March, the BIR chief said: “We just finished March. I cannot say anything yet.”
The BIR and Customs exceeded their collection goals last January helping the government achieve a budget surplus in the first month of 2011.
Customs collected a total of P20.5 billion as against its P20.008-billion goal, while the BIR collected P74.73 billion, higher than its P71.9-billion target.
National Treasurer Roberto B. Tan said February fiscal performance will be released by “early next week.”
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