The Bureau of Internal Revenue collected a total of Php71.56 billion in tax revenues for the month of March 2011. This exceeds its target for the month, placed at Php68.07 billion, by Php3.5 billion or by about 5.13%.
In comparison to the collections last March 2010 when the BIR collected a total of Php 58.31 billion, this year’s actual tax collections expanded by Php13.25 billion for a growth of 22.7%.
The last time March collections grew by more than twenty percent was 5 years ago in March 2006 when actual performance expanded by 21%.
For the first quarter of 2011, BIR tax collections have already reached Php199.55 billion, marking a Php2.51 billion excess over the Q1 goal of Php197.04 billion.
This first quarter performance also marks an expansion over the actual collections for the same period last year (2010), at Php173.89 billion, by more than Php25.65 billion for a growth of 14.75%.
“I would like to congratulate my colleagues at the BIR for their performance. I am happy and proud to head such an organization whose people take their role in nation-building seriously but more importantly are not afraid to do so despite the cost and pressures”, Commissioner Kim Henares says proudly.