The Bureau of Internal Revenue (BIR) collected P279.14 billion in gross revenue in May, up 14.15% from the same month last year, according to a report by BusinessWorld. The amount surpassed the agency’s P279.056-billion target for the month.
BIR Commissioner Charlito Martin R. Mendoza attributed the growth to the extension of the annual income tax filing deadline, which allowed more taxpayers to comply. The extension was implemented to give individuals and businesses more time to meet their tax obligations amid ongoing economic challenges.
The May collections bring the BIR’s total revenue for the first five months of the year to around P1.34 trillion, keeping the agency on track to meet its full-year target of P3.05 trillion. Mendoza expressed confidence that the BIR will continue to exceed monthly goals through improved tax administration and enforcement efforts.