MANILA, Philippines — The country’s two largest revenue-generating agencies, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) were able to surpass their downscaled full-year collection goals in 2020, according to preliminary government data.
In a text message, Internal Revenue Commissioner Caesar Dulay said the BIR’s preliminary collection figure from January to December 2020 reached P1.899 trillion, 12.7 percent higher than the revised target of P1.69 trillion this year.
“The final collection figure will be in by January 10,” Dulay said.
This was, however, 12.7 percent lower compared to the total collection of P2.18 trillion in 2019 as the coronavirus pandemic and community lockdowns weakened the government’s revenue generation efforts.
The BOC, in a separate statement, also said it was able to raise P539.66 billion in revenue last year, 6.6 percent higher than the P506.15 billion target.
BOC collections in 2020 declined by 14.38 percent from P630.31 in 2019 due also to the economic impact of the pandemic.
For December alone, the BOC collected P47.32 billion, exceeding the target of P43.37 billion by 9.1 percent. This was the seventh consecutive month the bureau surpassed its target.
The BOC attributed its above-target performance to the improved valuation process implemented in all ports, the gradual improvement of importation volume and the government’s efforts to ensure the unhampered movement of goods domestically and internationally amid the pandemic.
A total of 10 out of 17 collections districts exceeded their 2020 targets, namely the ports of Cebu, Tacloban, Surigao, Cagayan De Oro, Zamboanga, Davao, Subic, Clark, Aparri and Limay.
Tax revenues from the BIR and the BOC accounted for the bulk of the government’s revenues.
The Development Budget Coordination Committee (DBCC) expects the 2020 revenues to reach P2.85 trillion, but data from the Bureau of the Treasury (BTr) showed that this target had already been breached, hitting P2.89 trillion as of end-November.
This year, economic managers set a revenue program of P2.88 trillion.
According to Dulay, the BIR is targeting to collect P2.081 trillion in revenues this 2021, 23.14 percent higher than its 2020 goal. The BOC, meanwhile, has yet to disclose its new target this year.