The collection of the Bureau of Internal Revenue (BIR) from excise taxes paid by large taxpayers for the first half of 2020 reached P128.59 billion, exceeding its adjusted target of P113.64 billion for this period by P14.95 billion or 13.15 percent despite the severe economic downturn triggered by the coronavirus pandemic.

Revenue collection targets for 2020 were adjusted to take into account the impact of the coronavirus disease 2019 (Covid-19) outbreak on economic activity.

While the BIR surpassed its first-semester target for excise tax collections this year, the amount it collected based on preliminary data is P41.13 billion or 24.23 percent short of the P169.718 billion it collected during the same period last year.

Preliminary data submitted to the Department of Finance (DOF) show that tobacco products led the gainers in terms of excise tax collections from large taxpayers, with P61.47 billion collected over the period of January 1 to June 30, surpassing the BIR’s target of P43.6 billion for this period by P17.87 billion or P41 percent.

Excise tax collections for alcohol products from large taxpayers amounted to P27.46 billion, which is P6.51 billion or 31.07 percent over the target of P20.95 billion for the January-June period.

Large taxpayers paid a total of P16.41 billion in excise taxes on sweetened beverages, which is just 2.46 percent shy of the P16.83 billion target of the BIR for the first half of 2020.

For other products, excise tax collections from large taxpayers covering the January-June period amounted to P2.12 billion for minerals, which is P161 million or 8.2 percent more than last year’s P1.96 billion; P985 million for automobiles; P129 million for non-essentials; and P1 million for cosmetic procedures.

Excise tax collection from large taxpayers on petroleum products amounted to P19.99 billion from January to June.

With restrictions on movement strictly imposed starting March, demand for oil products declined, which is why the excise taxes collected is P8.59 billion or 30 percent below the target of P28.59 billion for this period.

For the month of June, excise tax payments of large taxpayers on tobacco products amounted to P18.1 billion, which is almost triple or 176 percent of its target of P6.56 billion and P4.8 billion or 36.1 percent more than the P13.3 billion collected in the same month of 2019.

Excise tax collection from large taxpayers in June for alcohol products also exceeded the BIR target.

Collections amounted to P7.35 billion, which is P4.2 billion or 133 percent over the target of P3.15 billion for the month, and P515 million or 7.5 percent more than the P6.83 billion collected in June 2019.

The BIR also collected P483 million or 19.1 percent above its target of P2.53 billion for the excise taxes of large taxpayers on sweetened beverages in June, with collection reaching P3.02 billion.

Petroleum products yielded P2.1 billion in excise taxes in June, down by P2.2 million or 51 percent compared to the target of P4.3 billion, as quarantine measures were relaxed slightly last month but the means of public transport remain limited. But the June 2020 collection is higher by P53 million or 2.6 percent compared to the P2.05 billion collected in June 2019.

Excise taxes in June from automobiles amounted to P124 million; minerals, P368 million; non-essentials, P2 million, and cosmetic procedures, 0.

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