BIR, Customs collections rise strongly in April

Tax revenue from the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) grew 13.47 percent and 43 percent, respectively in April, while government disbursement went up 40.69 percent, the Department of Finance (DOF) reported yesterday.

Based on preliminary data from the Bureau of the Treasury (BTr), the BIR’s collection in April rose to P209.8 billion from P184.9 billion a year ago.

The BOC, for its part, collected P46.9 billion, up 43 percent from the P32.8 billion it generated a year ago.

Government disbursements also jumped 40.69 percent to P225.8 billion compared to the P160.5 billion reported in the same period in 2017.

Economic managers attributed the increase in government revenue to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

The improvement in disbursements, meanwhile, was attributed to the implementation of the administration’s infrastructure program.

Budget Secretary Benjamin Diokno cited the reforms made by the Department of Budget and Management in terms of budget planning and utilization.

He expects the government to maintain its momentum for the rest of the year, pushing the country’s economy to perform well and expand at the rate of seven to eight percent.

During its most recent meeting, the Development Budget Coordination Committee (DBCC) approved a revenue program of P2.846 trillion for 2018.

This was higher than the previously approved level of P2.789 trillion, mainly due to the impact of the Package 1A and 1B of the Comprehensive Tax Reform Program.