BIR raises ₱902 B in first semester

The Bureau of Internal Revenue (BIR) has raised almost ₱902 billion in the first semester of the year.

The January to June take was less than ₱170 billion compared to the actual collection of more than ₱1 trillion for the same period last year as the coronavirus pandemic continues to batter the economy.

It was also short by ₱31.5 billion from the target of ₱933.4 billion.

The Large taxpayers Service of the bureau which audits big businesses raised the bulk of the collection totalling to more than ₱581.4 billion and the balance garnered by the 21 regional office.

Fiscal authorities has reduced this year collection goal of the BIR to ₱1.7 trillion from the original assignment of ₱2.4 trillion fixed at the start of the year.