Business Technology, Finance Technology & Information Technology
BIR and BOC collection targets for 2021 have been exceeded.
MANILA, Philippines – The government’s two primary revenue collection agencies collected a total of PHP2.732 trillion in 2021, exceeding their combined target of PHP2.698 trillion by 1.26 percent, according to data from the Department of Finance’s Revenue Operations Group (ROG).
DOF ROG Undersecretary Antonette Tionko stated in a report to Finance Secretary Carlos Dominguez III that the amount collected by the Bureaus of Internal Revenue (BIR) and Customs (BOC) last year was 9.78 percent higher than their combined actual collection of PHP2.489 trillion in 2020.
Between January 1 and December 31, 2021, the BIR collected PHP2.086 trillion, or 0.25 percent more than the year’s target of PHP2.081 trillion set by the Development Budget Coordination Committee (DBCC).
Tionko added that the BIR collection for 2021 was also 6.93 percent higher than the actual collection of PHP1.951 trillion in 2020.
For its part, the BOC collected PHP645.77 billion, exceeding the PHP616.75 billion target set by the DBCC by 4.70 percent. Additionally, it exceeded the PHP537.69 billion collected in 2020 by 20.10 percent, she added.
According to ROG estimates, the BIR and BOC collected an average of around PHP11.02 billion per day, compared to the daily target of PHP10.88 billion.
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