THE Bureau of Internal Revenue (BIR) is expecting further growth in collections in 2025, assuming that Congress passes a number of stalled tax bills.
“We are doing a lot to improve our efficiency and our collection targets. So, I think that the collection will be better also for 2025,” Commissioner Romeo D. Lumagui said on the sidelines of a Congress hearing last week.
For 2025, the BIR is tasked with collecting P3.2 trillion, while the Bureau of Customs’ target is P1.06 trillion.
Earlier this week, the BIR said that it exceeded its revised P2.85-trillion collection goal in 2024, which is expected to further increase when the totals are finalized around mid-February.
In 2024, the BIR’s collection target was 22% higher than the P2.34-trillion goal in 2023. That year, revenue rose 8% but missed its P2.64-trillion target.
“This double-digit growth also presumes that (pending tax bills) will be passed. So, that’s one thing,” he said.
The BIR said these bills include the excise taxes on single-use plastics, pre-mixed alcoholic beverages, sweetened beverages, as well as the rationalization of the mining fiscal regime.
The proposed excise tax measure on single-use plastic received final approval from the House of Representatives but remains stalled at committee level in the Senate.
Similarly, the measure rationalizing taxes for large-scale miners has hurdled the House but remains at second reading in the Senate.
Meanwhile, the excise tax on sugar-sweetened beverages and pre-mixed alcoholic beverages remains in committee at the House. — Aubrey Rose A. Inosante
