MANILA -– The Bureau of Internal Revenue yesterday reported the 14.78 percent year-on-year increase in its collection in the first quarter of 2012.

In a statement, the BIR said revenues from January to March this year totaled to P229.04 billion, up by P29.5 billion than the P199.54 billion in end-March 2011.

The Bureau noted that amid the non-recurring collection amounting to P13.3 billion in March last year, still, it was able to surpass last year’s collection.

For March this year, BIR revenues totaled to P75.2 billion, higher by P3.64 billion than the P71.56 billion it registered during the same period last year.

Collection goal for last March is P82.259 billion while revenue target in the first quarter this year is P232.667 billion.

Internal Revenue Commissioner Kim Henares earlier vowed to exhaust all means to hit their P1.066 trillion for this year.

She is confident that the BIR would be able to surpass last year’s collections and achieve their revenue target this year.

In 2011, the Bureau, which is tasked to collect about 70 percent of government revenues was able to collect P924.15 billion, 12.34 percent higher than its P822.62 billion collection in the previous year. The collection goal last year is P940 billion.*PNA

back to top