The tax and customs bureaus grew their collections in July but still fell short of targets, preliminary Finance department data showed. The Bureau of Internal Revenue (BIR) netted P134.18 billion, up 14 percent from a year earlier and short of the month’s P134.72-billion goal. Year-to-date collections of P246.98 billion also fell short of the P257.14 billion target. To improve collections, Joven said both agencies are trying to increase voluntary compliance, revenues from which comprise 97 to 98 percent of total collections. This involves going after “big fish” and making it easier for people to pay their taxes, Joven explained.

Source: Manila Times August 14, 2017 17:26 UTC