The Bureau of Internal Revenue (BIR) exceeded its downscaled full-year collection target as early as November and is bracing for a bigger goal next year amid expectations of an economic rebound from the pandemic-induced recession.
Internal Revenue Commissioner Caesar Dulay and Deputy Commissioner Arnel Guballa said collections for the month of November alone amounted to P182 billion, exceeding the P145.4-billion program for the month.
This brought total collections for the 11 months to November to P1.78 trillion, breaching not only the 11-month target of P1.57 trillion but also the 2020 program of P1.69 trillion.
However, the BIR’s cumulative collections from January to November…
Keep on reading: BIR breaches collection goal for 2020