THE government surpassed its excise tax collection target for the month of January, the Bureau of Internal Revenue said Monday.
Total actual excise tax collections reached P22.078 billion, or over 7.7 percent of the goal of P20.501 billion for January and 81.7 percent higher than the tax take of P12.152 billion in the same period last year.
BIR Commissioner Caesar Dulay said in a report during the latest executive committee meeting of the Department of Finance the bureau collected P12.139 billion in excise taxes from tobacco companies in January, exceeding the target of P7.944 billion by 53 percent for the month.
Dulay said tobacco excise collections in January were also 95.9 percent or P5.942 billion higher than the tax take of P6.196 billion recorded in the same month last year.
Excise tax collections from automobiles reached P443.34 million, or 29.4 percent in excess of the target of P342.561 million for the month and 113.1 percent higher than last year’s collections of P208.010 million.