BIR, BOC overshoot 2021 collection targets
The government’s two main revenue collection agencies collected a total of P2.732 trillion in 2021, surpassing their combined collection target of P2.698 trillion by 1.26 percent for the period, according to data provided by the Revenue Operations Group (ROG) of the Department of Finance (DOF).
In a report to Finance Secretary Carlos Dominguez III, the Undersecretary for Revenue Operations said the amount raised by the bureaus of internal revenue and of customs for 2021 was 9.78 percent more than their 2020 actual combined collection of P2.489 trillion.
From Jan. 1 to Dec. 31, 2021, the BIR collected P2.086 trillion, or 0.25 percent above its target set by the Development Budget Coordination Committee (DBCC) of P2.081 trillion for the year.
The BIR collection for 2021 was also 6.93 percent over its actual collection of P1.951 trillion in 2020, said Undersecretary Antonette Tionko, who heads the ROG.
For its part, the BOC collected P645.77 billion, as against its DBCC-set goal of P616.75 billion, or 4.70 percent above target. It also surpassed its actual 2020 collection of P537.69 billion by 20.10 percent, she added.
On a per-day basis, the BIR and BOC’s combined collection averaged around P11.02 billion per day as against its daily collection target of P10.88 billion, according to ROG estimates. DOF
