BIR Collections for Q1 2015 and April 2015 Sustain Uptrend

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BIR Collections for Q1 2015 and April 2015 Sustain Uptrend

Q1 2015 collections growth at 14.61%

 

18 June 2015– For the first quarter ending March 31, 2015, the Bureau of Internal Revenue collected PhP 303.38 billion in tax revenues, PhP 38.68 billion or 14.61% more than the collections made in the 1st quarter of 2014.  Collections from BIR operations amounted to PhP 292.25 billion, PhP 27.62 billion or 14.77% more than collections made in the 1st quarter of 2014.  While collections from non-BIR operations amounted to PhP 11.13 billion, PhP 1.06 billion or 10.49% more than 1st quarter of 2014.

For the month of April 2015, the BIR collected PhP 160.78 billion, PhP 4.67 billion or 2.99% more than collections made in April 2015.

Collections from BIR operations amounted to PhP 159.45 billion, PhP 6.06 billion or 3.96% more than that of April 2015.  Of this amount, the regional offices collected PhP 59.87 billion, PhP 4.76 billion or 8.64% more than its collection last April 2014. Meanwhile the Large Taxpayer Service collected PhP 99.18 billion, PhP 1.30 billion or 1.33% more than its collection last April 2014.

Collections from non-BIR operations for April 2015 amounted to PhP 1.73 billion, PhP 1.39 billion or 44.55% less than the amounted collected on April 2015.

Since a large part of the income tax liabilities due on April 15, 2015 were the tax liabilities due from business resulting from their business operations for the last quarter of 2014, sales of businesses and the resulting income therefrom are greatly affected by the port congestion experienced last year.

The collections of the Large Taxpayer Service were greatly affected by decreases in income reported by a significant number of taxpayers under their jurisdiction. Taxpayers should expect a significant intensification of audit to determine the veracity of the reported decreases in their income.