BIR May ’14 revenues up 14.6% to P128.27B yoy

By Joann Santigo

MANILA, June 17 (PNA) — Collections of the Bureau of Internal Revenue (BIR) sustained its improvement with the May 2014 level rising by 14.63 percent year-on-year.

In a statement Tuesday, the BIR said its collections in the fifth month this year reached P128.27 billion, higher than year-ago’s P111.9 billion.

However, the agency failed to meet its P133.95 billion goal for the month.

Of the total revenues last May, the bulk was accounted for by BIR operations amounting to P125.46 billion, P15.96 billion higher than year-ago’s P109.5 billion.

Amid this increase the agency still failed to meet BIR Operations’ P130.21 billion target for the month.

Similarly, revenues of the non-BIR operations went up to P2.81 billion, higher than year-ago’s P2.4 billion but lower than the month’s goal of P3.74 billion.

Also, the Regional Offices collected P42.58 billion in the fifth month this year, higher than year-ago’s P35.38 billion but lower than the month’s goal of P42.32 billion.

The Large Taxpayers Service also posted an increase in its revenues to P82.89 billion last May, higher than year-ago’s P74.13 billion but lower than the goal for the month amounting to P76.03 billion. (PNA)