BIR surpasses July ’14 revenue goal

MANILA, Aug. 15 (PNA) — The Bureau of the Internal Revenue topped its P119.3 billion revenue goal for July 2014 after collecting P119.94 billion.

In a statement Friday, the agency said its revenues in the seventh month of 2014 is higher by 19.82 percent than the P100.1 billion same period in 2013.

Asked by PNA on whether the agency can sustain this performance and hit its full year goal of P1.46 trillion Revenue Commissioner Kim Jacinto-Henares said: “I do not know but I hope so.”

”Everyone is working very hard to reach our goal,” she added.

Of the total, collections from BIR operations reached P115.45 billion, 21.61 percent higher than year-ago’s P94.94 billion and higher than the goal for the month of P113.39 billion.

On the other hand, non-BIR operations’ revenue reached P4.49 billion, lower than year-ago’s P3.8 billion as well as the P6.49 billion goal for the month.

Relatively, the Regional Offices shared in P37.92 billion, higher by 15.12 percent year-on-year but lower than the P35.97 billion goal for the month.

Meanwhile, revenues of the Large Taxpayers Service (LTS) rose by 25.05 percent year-on-year to P77.54 billion, which is also higher than its goal for the month amounting to P75.1 billion. (PNA)