Tax and customs agencies report higher mid-year collections

Revenue collections from the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) increased in June this year, according to preliminary figures shared by Finance Secretary Ralph Recto.

In an informal media briefing, Recto reported that the BIR collected PHP200.52 billion last month, up from PHP170.03 billion in the same period last year. The increase marks a year-on-year growth of approximately 14 percent.

“I think, so far the BIR is doing a good job. They’re growing roughly by 14 percent,” Recto said, noting that the uptick was largely driven by improved collections from the value-added tax, excise tax, and corporate income tax.

Meanwhile, the BOC also posted improved revenues in June, collecting PHP77 billion compared to PHP74.6 billion in June 2024.

Despite the gain, Recto said the customs bureau is at risk of falling short of its full-year collection target due to weaker-than-expected revenues from rice and electric vehicle imports.

“We met with the entire BOC on Monday (July 14) for a catch-up plan, with some of the collectors from Luzon. All the deputy commissioners were there, and the new BOC commissioner,” Recto said.

He said the agency presented a recovery strategy that could raise second-half revenues by PHP50 billion compared to the first half.

In a separate statement, the Department of Finance highlighted BOC Commissioner Ariel Nepomuceno’s renewed commitment to implementing the bureau’s 5-Point Priority Program for 2025. These priorities include digitalizing customs processes, exceeding revenue targets, facilitating secure and simplified trade, combating smuggling, and investing in employee development.

Recto expressed support for the new BOC leadership and urged faster implementation of reforms to improve collection efficiency.