The Bureau of Internal Revenue (BIR) topped its revenue collection target for the first half of 2025, reaching over P1.5 trillion.
BIR Commissioner Romeo Lumagui Jr. said in a video interview the figure was 0.5 percent higher than the target, attributed to the BIR’s efforts to enhance tax compliance and expand the tax base.
Lumagui said the achievement show the BIR is “on track” to meet its P3.23-trillion collection goal for 2025, despite slower-than-projected economic growth.
He said the initial P3.23 trillion target was based on an assumption of over 6 percent gross domestic product (GDP) growth.
Data showed the Philippine economy expanded by 5.4 percent in the first quarter of the year. Economic managers have revised the full-year GDP forecast to 5.5 percent to 6.5 percent.
Lumagui hinted the full-year revenue goal might be recalibrated, but a final decision has not yet been made.
