The Bureau of Internal Revenue (BIR), the government’s main tax agency, is expecting a substantial boost in collection this year due to enhanced tax administration measures.
BIR Commissioner Romeo D. Lumagui Jr. has signed Revenue Memorandum Order 27-2023, stating a 1.5 percent increase in the agency’s tax collection target for 2023 from P2.599 trillion to P2.639 trillion.
Similarly, other taxes within the non-BIR operations category are now expected to reach P18.63 billion, surpassing the earlier estimate of P14.77 billion. Moreover, taxes on net income and profits under the BIR operations category have been slightly revised upward by P2 billion from P1.314 trillion to P1.316 trillion.
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