Revenue collection of the Bureau of Internal Revenue (BIR) expanded to P854.5 billion in the past 11 months, up 13.4 percent from the P753.3 million during the same period last year.
Internal Revenue Commissioner Kim Henares said BIR collection for the month of November 2011 alone rose to P92.7 billion, up 12.5 percent from the P82.4 billion in the same month last year.
Henares said the agency kept themselves “abreast with the target” as actual collections were only 0.68 percent short, amounting to P5.8 billion, of their P860.3-billion goal for the 11-month period.
She believes that BIR could still meet its P920-billion revenue goal this year.
She cited that although the deficit may seem small in percentage terms she “prefers to look at the collection shortfall in terms of value.”
“My people at the BIR are fully focused on recouping the 5.8 billion deficit by the end of December,” she said.