BIR Hits PHP 2.848 Trillion Collection Goal

The Bureau of Internal Revenue (BIR) reached its 2024 collection target of PHP 2.848 trillion, marking the first time in 20 years the agency has achieved its full collection goal.

BIR Commissioner Romeo D. Lumagui Jr. announced the milestone, stating the target was approved by the Development Budget Coordination Committee (DBCC) on March 22, 2024.

“After 20 long years, the BIR has finally reached its full collection target,” Lumagui said. “All credit belongs to the men and women of the BIR. Mabuhay po kayong lahat!”

Although final figures will be released in mid-February 2025, preliminary data confirm the target has been met, with expectations of further increases in the finalized collection total.

Lumagui attributed the achievement to the dedication and hard work of BIR employees and the implementation of reforms aimed at improving governance and taxpayer services.

“Our dedication to good governance reforms, manifested by our shift to a taxpayer-oriented agency, has increased voluntary compliance,” Lumagui said. “This shows that when government agencies enhance their services, processes, and programs, our countrymen will do the right thing and pay their proper share of taxes.”

Lumagui emphasized the BIR’s focus on his Four Pillars of Good Governance:

1. Fearless and aggressive enforcement activities.
2. Excellent taxpayer service.
3. Integrity and professionalism of the institution and its employees.
4. Digitalization.

The commissioner highlighted key initiatives such as the Run After Fake Transactions (RAFT) task force, which combats ghost receipts, and the implementation of a withholding tax system for online stores, leveling the playing field between retail and e-commerce businesses.

Lumagui expressed gratitude to taxpayers and the private sector for their cooperation in achieving the collection target.

“The BIR will continue its cooperation with the private sector and its taxpayers,” he said. “You are our partner in nation-building. Without your support, we could not have reached our PHP 2.848 trillion goal. Maraming salamat sa inyong walang-sawang suporta.”

The last time the BIR reached its collection goal was in 2020, but the target had been significantly reduced due to the economic effects of the COVID-19 pandemic. The 2024 accomplishment represents the first full collection target met in two decades.

The agency’s reforms and commitment to modernizing processes and improving taxpayer engagement have positioned it to sustain this success in the coming years.