8 months BIR misses 2018 collection target MB |Biz
By Chino S. Leyco The Bureau of Internal Revenue (BIR), the government’s main tax agency, missed its collection target last year owing to lower-than-expected income from the first tax reform law. (MANILA BULLETIN) Based on the BIR presentation before the House congressional oversight committee, the agency reported that it has raised P1.961 trillion in January to December 2018, below by 4.01 percent against the P2.043 target for the year. However, the BIR noted that its total tax revenues last year was higher by 10 percent compared with P1.781 trillion collection in the previous year. According to the BIR, the shortfall ... more