BIR exceeds tax collection target

With the new tax mechanism or the TRAIN law in place, BIR is anticipating a decrease on compensation taxes because of the exemptions put in place.

The Bureau of Internal Revenue-Palawan recently declared it had exceeded their target revenue collection for the year. As of October 2017, the agency said it has collected a total of P2.5 billion to surpass its target goal of P2.3 billion.

BIR head officer BIR officer Luz Magdalena Bocita attributed their improved collection to the increased awareness of taxpayers in the province. She said the bulk of the collection came from personal income taxes, business taxes.

Bocita added however they have maintained a list of delinquent tax payers in Palawan and that they are conducting case monitoring on them. She did not however identify the individuals and establishments concerned.

Bocita also said they are working to implement an ATM tax payment system starting next year that they expect will further boost their collection.

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