11 months BIR nets P1.961T, misses 2018 target Manilatimes |Biz
Lower-than-expected income, value-added and excise tax revenues caused the Bureau of Internal Revenue (BIR) to miss its 2018 collection target, legislators were told on Tuesday. While the bureau netted P1.961 trillion last year, up 10.1 percent from a year earlier, the result fell short of the P2.043-trillion goal, BIR Assistant Commissioner Alfredo Misajon said during a House of Representatives ways and means committee hearing. BIR data showed the biggest shortfalls came from the income, value-added (VAT) and excise tax components. At P982.7 billion, income tax collections were 4.14 percent below the P1.024-trillion target for the year. It should be ... more