MANILA – The Bureau of Internal Revenue almost hit its P86.18 billion collection for October 2012 after revenues rose by 22.13 percent year-on-year, a government press release said.

The BIR said its revenues hit P86.1 billion, up by P15.6 billion than its P70.5 billion same period in 2011.

In the first 10 months this year, the agency collected P858.6 billion, up by 13.45 percent than the P756.79 billion in end-October last year.

Relatively, revenues from BIR operations hit its P82.4-billion target for October after it reached P83 billion.

This is a 19.89-percent improvement over the P69.24 billion same period last year, the press release said.

Similarly, revenues from non-BIR operations rose 140.34 percent year-on-year to P3.15 billion from the P1.31 billion in October 2011.

This is, however, short by P0.65 billion against the P2.5 billion for the month.

Of the total BIR collections last October, the regional offices contributed P33 billion, surpassing the P28.91-billion collection goal for the month and higher than the P23.75-billion collection in October 2011.

The Large Taxpayer Service also registered an improvement in collections after its revenues for last October alone hit P49.96 billion, up from the P45.46 billion same period last year.

The BIR has a P1.066-trillion collection goal this year, the first trillion-level revenue goal for the agency.

Earlier, BIR Commissioner Kim Jacinto-Henares vowed to meet their revenue target through improved tax administration, among others.*

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