THE Bureau of Internal Revenue (BIR) said it expects to exceed its first-quarter collection target even after preliminary totals of P668.99 billion fell short of the goal of P671.99 billion.
First-quarter collections as initially reported were 12.78% higher year on year.
Commissioner Romeo D. Lumagui, Jr. said at a briefing on Tuesday that the final total will likely bring the bureau beyond the target, driven by value-added tax collections.
“For 2025, our target is P3.23 trillion. Based on the progress of our implemented programs and the performance from January to March, our collection is going well. In fact, we are exceeding our targets, and we expect this trend to continue in April and the following months,” he said.
April collections will be boosted by the income tax payments to be received by the April 15 income tax deadline. The April target is P208 billion.
“After reviewing the numbers, we were still waiting for approximately 9% more to file (Tuesday),’ he said.
The BIR was expecting around 4 million income tax returns to be filed.
He said rules requiring online filing have migrated most filers to that channel.
“Actually, almost all. The only ones that have the option for manual filing are micro and small business enterprises because we have new, shorter forms for them,” he said.
“This is part of our new EoPT (Ease of Paying Taxes) law, which aims to simplify and shorten forms for micro and small businesses. That’s why we have introduced manual filing for them,” he added.
Last year, BIR collections from income and profits tax grew 9.15% to P1.53 trillion. — Aubrey Rose A. Inosante