BIR collection soars 24% in early 2024

The Philippines’ Bureau of Internal Revenue (BIR) announced that it exceeded its target revenue collection by a significant margin.

For the first two months of 2024, the bureau, spearheaded by Commissioner Romeo D. Lumagui Jr., reported collecting ₱446.423 billion.

This figure surpasses their goal by over ₱87 billion or 24.32%, marking a remarkable increase from the previous year’s numbers during the same period.

The BIR’s robust performance aligns with its ambitious 2024 target of ₱3.055 trillion, a projection that itself is 21.38% higher than the actual collections of 2023.

Lumagui attributes this success to the bureau’s relentless efforts to clamp down on tax evasion, particularly their crackdown on the trade of fraudulent receipts.

Alongside stringent enforcement, the BIR has prioritized improving service quality through digitalization initiatives and the ISO Certification of its frontline processes, aimed at enhancing taxpayer experience.

Lumagui’s strategy appears to be bearing fruit, not just in terms of revenue but also in fostering a culture of voluntary compliance among taxpayers.

The Commissioner believes that when taxpayers perceive the tax system as efficient and just, they are more inclined to meet their tax obligations without compulsion.