Jauhn Etienne Villaruel

Taxpayers line up to file their Annual Income Tax Returns (AITR) at Bureau of Internal Revenue office in Intramuros, Manila on April 17, 2023.  Jonathan Cellona, ABS-CBN News Taxpayers line up to file their Annual Income Tax Return (AITR) at Bureau of Internal Revenue office in Intramuros, Manila on April 17, 2023.  Jonathan Cellona, ABS-CBN News

Article (news)

INCOME TAX FILING

Jekki Pascual

ABS-CBN News

<p>MANILA — The Bureau of Internal Revenue (BIR) has set a record-high P3.23 trillion collection target for 2025. </p><p>This follows another milestone in 2024 when the agency reported it hit P2.84 trillion, the first time it reached its annual collection target in 20 years.</p><div><a href="https://www.abs-cbn.com/news/business/2025/1/15/bir-meets-2024-collection-targets-1109">BIR meets 2024 collection targets</a></div><p>BIR Commissioner Romeo Lumagui, Jr. is confident the higher collection target this year will be reached as long as tax compliance among businesses and individuals improves and new tax laws are passed.</p><p>“Ang inaasahan kasi natin ngayong taon na ito ay P3.23 trillion ang collection target at nakikita natin na kapag compliant ang mga taxpayers, kapag tinuturuan natin ay mas madali natin makakamit ang collection target na naiatas sa atin,” he said.</p><p>In order to entice more people to file and pay taxes, Lumagui led the nationwide Tax Compliance Verification Drive (TCVD). </p><p>He inspected different establishments along Banawe Avenue in Quezon City and checked if the shops are registered with BIR and are complying with the requirements. </p><div><a href="https://www.abs-cbn.com/news/business/2025/1/17/bir-banks-on-passage-of-new-laws-to-boost-tax-collection-1434">BIR banks on passage of new laws to boost tax collection</a></div><p>He did a surprise inspection at a restaurant, hardware stores, and a bike shop. </p><p>He saw some violations like some shops have not converted their official receipts into sales invoices, while others have not updated their book of accounts.</p><p>“Pinaalalahanan natin sila na i-rehistro ang mga negosyo nila sa BIR at nakita rin natin yung iba, hindi updated yung mga libro at yung mga invoices nila ay hindi pa na-convert into invoice dahil wala nang official receipts,” he said.</p><p>Those found with violations were not given sanctions for the period of the campaign drive which started February 10, 2025, and will run until February 14, 2025. After this period, violators will be asked to pay fines. </p><p>So far, over 30,000 establishments have been inspected by the BIR across the country. </p><p>Lumagui said this campaign is very important because it raises awareness for establishments to properly file and pay taxes. The bureau is also willing to help business owners how to pay taxes properly and legally</p><div><strong>RELATED VIDEO</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/5L43ZbS2dJk?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The Bureau of Internal Revenue (BIR) has set a record-high P3.23 trillion collection target for 2025.</p>

The Bureau of Internal Revenue (BIR) has set a record-high P3.23 trillion collection target for 2025.

BIR eyes P3.23 trillion tax target this year

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BIR eyes P3.23 trillion tax target this year

Jekki Pascual,

ABS-CBN News

Published February 11, 2025 04:19 PM PHT

Read More:

BIR

tax

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collection

Romeo Lumagui Jr

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