Revenue collection improved in the first five months of the year, Finance Secretary Benjamin Diokno said.
The government collected P1.6 trillion, up by P155.6 billion or 10.8 percent higher than the P1.4 trillion collected in the same period last year.The Finance chief attributed the increase to the Bureau of Customs' over collection and the Bureau of Internal Revenue's improved performance.The Bureau of Internal Revenue collected P1.05 trillion in the first five months, 9.95 percent higher than the P959 billion recorded in the same period last year.Finance Secretary Benjamin Diokno.
Meanwhile, the Bureau of Customs recorded a 12.10 percent growth or P359 billion in collections from January to May from P320 billion in 2022.There was a 20.56 percent increase in non-tax collections, or P178 billion from P147 billion in the first five months of 2022.The total tax collected was P1.4 trillion.Diokno is confident that the government will surpass its full year revenue target.
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