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Gov’t tax haul nosedives in April

By Chino Leyco

Total collections of the national government’s two main tax agencies suffered a nosedive last month following the country’s stringent measures to contain the spread of the coronavirus pandemic.

(MANILA BULLETIN)

(MANILA BULLETIN)

The Bureau of Internal Revenue (BIR) and the Bureau of Customs’ tax haul amounted to only P105.75. billion, down by 63 percent compared with P289.6 billion in April 2019, and only 80 per cent of the revised P131 billion target for April 2020.

Meanwhile, the Duterte administration’s tax collections in the first four-months 2020 also contracted by 25 percent to P527.41 billion from P706.78 billion in the same period last year.

According to the Department of Finance (DOF), the decline in tax collection was “a result of the community quarantine measures in Luzon and other parts of the country.”

The DOF said the quarantine measures also prompted the BIR to extend the deadlines for the filing and payment of income and other taxes to next month.


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/19/govt-tax-haul-nosedives-in-april/)

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