BIR, BoC collections up in 2021

THE government’s primary revenue-generating agencies increased their tax collections for the whole year 2021 compared to a year earlier, according to the Department of Finance (DoF).

In a statement released on Friday, it said that preliminary statistics showed the Bureau of Internal Revenue (BIR) was able to collect P2.07 trillion last year, which is 0.31 percent of its target set by the Development Budget Coordination Committee (DBCC) for the year.

In 2021, BIR’s tax revenue was 6.15 percent higher than in 2020, when it was P1.95 trillion.

The Bureau of Customs (BoC), on the other hand, exceeded its target, generating P645.77 billion last year, a 4.7-percent increase over the DBCC’s aim of P616.75 billion.

The BoC’s tax collection in 2021 was 20.10 percent up from P537.68 billion in 2020.

Finance Secretary Carlos Dominguez 3rd’s directive to the agencies to pursue their respective digital transformation plans aggressively well before the Covid-19 pandemic helped enhance revenue collections, the Finance de