The Bureau of Internal Revenue collected P94.74 billion in January, up 11.27 percent from the P85.15 billion the agency collected in January 2012, BIR data showed Wednesday.
Of the total, P89.03 billion was collected from BIR operations (regular tax revenues). P5.71 billion was collected from non-BIR operations, or taxes on government securities sold at auction by the Bureau of the Treasury.
Last week, the government said it will step up efforts to boost collections from the country's large taxpayers by using technology- and information-based solutions, particularly the enhancement of the audit process through statistical analysis using industry and economic benchmarks to identify taxpayers at high risk of non-compliance.
Large taxpayers account for the biggest share in the BIR's total revenues, with the bureau's Large Taxpayers Service collecting P649.95 billion, or 64 percent of total collections from BIR operations, last year. The LTS collection target for 2013 is P768.3 billion.
Last year, BIR collected a total of P1.057 trillion, just P9 million short of its P1.066-trillion target. For 2013, the Department of Finance has given the BIR a revenue collection target of P1.253 trillion. — BM, GMA News
source: gmanetwork.com
