THE Bureau of Internal Revenue's (BIR) collection target, currently at P3.2 trillion for 2025, could be revised given lower-than-expected economic growth.
THE Bureau of Internal Revenue's collection target, currently at P3.2 trillion for 2025, could be revised given lower-than-expected economic growth. 'There are ongoing discussions,' BIR Commissioner Romeo Lumagui Jr. said. 'Supposedly, the collection target is dependent on the economic growth of the country. So since GDP growth is not going as projected, the basis for the target also changes.' The economy expanded by just 5.
Year-to-date collections reached P1.11 trillion, up 14.5 percent from the year-earlier P970.3 billion. Despite economic headwinds, Lumagui remained optimistic that better taxpayer services and digital upgrades would improve compliance and support revenue generation. He also said that the BIR was proposing a 2026 budget of P18 billion, up from this year's P16.9 billion.
'Ongoing' To Change BIR Target
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