Collections of the government’s two main tax agencies surpassed the P2-trillion mark in the first nine months of the year, nearing the pre-pandemic level, the Department of Finance reported Friday, Oct. 22.
But to hit the P2.715 full year tax collection target for 2021, the government needs to raise as much as P685 billion in the fourth quarter. In September alone, the government’s tax collections improved 12 percent to P216 billion from P192.8. billion in the same month last year. BIR Deputy Commissioner Arnel Guballa also said the agency closed down the operations of two establishments in September, which yielded P290 million in tax collections.
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