BIR Posts Higher November Collection of P157-B

The Bureau of Internal Revenue (BIR) posted a 15 percent revenue collection increase to P157.3 billion in November from its year-ago performance.

The BIR said in a report to Finance Secretary Carlos Dominguez III that it collected P157.29 billion last month, or 15.34 percent higher than its November 2015 collection of P136.37 billion.

This year’s total collection of the BIR has reached P1.454 trillion as of Nov. 30, which is P127.41 billion more than last year’s collection for the same 11-month period.

This translates into a 9.6 percent increase in its year-to-year collection, said the BIR in its report to Dominguez.

It attributed the collection increase mainly to the agency’s streamlined processes that have improved efficiency in monitoring and collecting taxes, particularly the reduction of documentary requirements for one-time transactions (ONETT) and monitoring of process workflow of the agency’s offices. (DOF)