MANILA, Philippines—The Bureau of Internal Revenue (BIR) said Friday it surpassed its collection targets for both June and the first half of 2025.
BIR Commissioner Romeo Lumagui Jr. said in a statement the agency collected P200.524 billion in June, exceeding its target by 2.85 percent or P5.554 billion (net of tax refunds).
This also represented a 16.24-percent increase, or P28.021 billion, compared to the same month last year.
Lumagui said that for the first half of the year, the bureau’s total collection reached P1.554 trillion, surpassing the cumulative target by P4.594 billion (net of tax refunds). This increased by 14.11 percent, or P192.143 billion, from the collections in the same period in 2024.
The six-month collection represented more than 48 percent of the BIR’s full-year target of P3.232 trillion, which is 13.36 percent, or P380.871 billion, higher than the total collection in 2024.
Lumagui said the bureau hopes to increase its revenue base to meet and exceed its annual goal, citing new tax laws such as the VAT on Digital Services, the CREATE MORE Act and the Capital Markets Promotions Act (CMEPA).
