BIR collections miss target for first 8 months – BusinessWorld Online
THE Bureau of Internal Revenue (BIR) said it collected P2.06 trillion in the first eight months, falling short of its P2.18-trillion target.
According to a document circulated during a House briefing on Wednesday, the BIR said the preliminary total of P2.06 trillion failed to hit the target by 5.70%.
Year on year, 8-month collections were up 7.27%.
The BIR is tasked with collecting P3.219.5 trillion over the full year, according to the 2026 Budget of Expenditures and Sources of Financing report.
In August, the BIR collected P170.12 billion, down 37.18% from a year earlier.
The presentation of BIR was deferred without the presence of Commissioner Romeo “Jun” Lumagui, Jr.
The House Ways and Means committee briefing was attended by the Department of Finance and BIR officials, who had been due to present their tax proposals and revenue performance. — Aubrey Rose A. Inosante