THE BUREAU of Internal Revenue (BIR) collected P116.22 billion in tax revenues in April, 12.41% higher than tax collection in the same month last year.
However, the BIR missed its April collection target of P122.8 billion by 5%. April is traditionally the strongest month for the BIR because of the deadline for filing annual income tax returns.
Year to date, the BIR's total collection for the first four months of 2012 rose by 13.97% to P345.26 billion over the collection for the same period of 2011. However, the BIR also failed to meet its 4-month target of P355.48 billion
The Regional Offices collected P39.18 billion in April, 20.18% higher than collections made in April 2011. The Large Taxpayer Service saw a 7.77% increase in collection to P74.25 billion in April 2012.
For 2012, the BIR set a target of P1.066 trillion in revenues, 15% higher than the P924.14 billion actual collections in 2011. (ABS-CBNnews.com)