By Joann Villanueva
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui has expressed confidence they will hit their P3.23-trillion collection target this year amid the strengthened drive to encourage taxpayers to pay their taxea.
Citing preliminary figures for the first quarter of the year, Lumagui said revenues as of end-March reached P668.79 billion, or P3.2 million short of the P671.99-billion goal for the quarter.
Collections in the first three months of this year are higher than the P593-billion revenue take in the previous year.
“For 2025, our target is P3.23 trillion. And we think that, again, based on the progress of our programs already laid out, and also based on the progress of the first months from January to March, our collection is running well,” Lumagui told reporters in an interview during the last day of the tax filing for the year.
The BIR chief said income tax collections will play a major part in helping the bureau achieve its collection target. BIR’s April 2025 collection target is P208 billion. He said they expect around 1.4 million filers, both individuals and businesses, to fulfill their tax obligations.
Lumagui said digitalization of their processes and the introduction of online payment options are plus factors for the BIR, even as many taxpayers still file manually, but more taxpayers are now opting to use technology to make their tasks easier.
Those who fail to meet the deadline will be slapped with penalties such as the 12-percent interest, the corresponding surcharge of 25 percent, as well as compromise charge. (PNA)