Nine-month tax, customs collection rise

Collections of the Bureau of Internal Revenue (BIR) recorded a double-digit growth while the Bureau of Customs (BOC) posted a 4-percent rise during the first three quarters of the year, according to a report by Philippine News Agency.

In a Facebook post on Friday, the Department of Finance (DOF) said preliminary data from January to September 2024 showed that the BIR has already collected PHP2.08 trillion, a 12.13 percent increase from the same period last year.

The BOC collection, meanwhile, amounted to PHP690.84 billion, 4.61 percent higher than last year.

The DOF said Finance Secretary Ralph Recto convened the fourth BIR and BOC Command Conference on Oct. 9 to assess the agencies’ collection performance and discuss plans and strategies for 2025.

BIR Commissioner Romeo Lumagui, Jr., BOC Commissioner Bienvenido Rubio and their respective senior officials attended the meeting.

The total revenue collection target for this year is PHP4.3 trillion.

The bulk of the tax revenues amounting to PHP3.05 trillion will be generated by the BIR while Customs is expected to collect nearly PHP1 trillion.