by Phres A. Evardone
The Bureau of Internal Revenue reported a 12 percent increase in its tax collection this year. This was announced Wednesday by Deputy Commissioner Nelson Aspe during the Communication and News Exchange Forum held at the Philippine Information Agency (PIA).
Aspe said the collection from January to February this year was P854.5 billion which is around P101 billion higher than the collection for the same period in 2010.
"Even though this 11 month tax collection is P5 billion short of our collection target for 2011, still, this increase is more than satisfactory considering that our gross domestic product (GDP) did not increase by 12 percent" Aspe added.
As for the year-round collection target of P940 billion, Aspe said the internal revenue office is still beefing up its efforts to collect the remaining balance of its 2011 target.
Aspe further said that the operations group of BIR is currently discussing various strategies to reach the P1.66 trillion revenue collection target for 2012.
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