The Philippine government's fiscal position swung to a surplus in April as state collections outgrew spending during the period, data released by the Bureau of the Treasury on Thursday showed.The budget surplus stood at P42.7 billion last month, from a deficit of P195.9 billion in March.
BIR, BOC collectionsBroken down, the Bureau of Internal Revenue collections totaled P378.5 billion, up 12.65% from P336 billion in April last year.The BIR's collection grew on the back of an "over-performance" in all major tax types compared to the same period in 2023 as both income tax and VAT posted double-digit growth as annual income tax filing, and first quarter 2024 VAT payments are due during the month.The Bureau of Customs, likewise, collected P80.7 billion, up 19.
Bureau Of The Treasury Btr BIR
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