BIR, BOC exceed 2021 collection targets

The government’s two main revenue collection agencies collected a total of PHP2.732 trillion in 2021, surpassing their combined collection target of PHP2.698 trillion by 1.26 percent for the period, based on data from the Revenue Operations Group (ROG) of the Department of Finance (DOF) showed.

In a report to Finance Secretary Carlos Dominguez III, DOF ROG Undersecretary Antonette Tionko said the amount raised by the Bureaus of Internal Revenue (BIR) and of Customs (BOC) last year was 9.78 percent more than their 2020 actual combined collection of PHP2.489 trillion.

From Jan. 1 to Dec. 31, 2021, the BIR collected PHP2.086 trillion, or 0.25 percent above its target set by the Development Budget Coordination Committee (DBCC) of PHP2.081 trillion for the year.

The BIR collection for 2021 was also 6.93 percent over its actual collection of PHP1.951 trillion in 2020, Tionko said.

For its part, the BOC collected PHP645.77 billion as against its DBCC-set goal of PHP616.75 billion, or 4.70 percent above target. It also surpassed its actual 2020 collection of PHP537.69 billion by 20.10 percent, she added.

On a per-day basis, the BIR and BOC’s combined collection averaged around PHP11.02 billion per day as against its daily collection target of PHP10.88 billion, according to ROG estimates.