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MANILA, Philippines – Tax collections of the Bureau of Internal Revenue (BIR) remained above target for a fifth consecutive month in May, buoyed by the extended annual income tax return filing season.
Data released by the BIR on Monday showed revenues climbed 14.15 percent to P279.1 billion in May from P244.5 billion in the same month last year. The amount also slightly exceeded the agency’s target by P78.22 million, or about 0.03 percent.
READ: BIR collects P422B in April, exceeds target despite AITR deadline extension
The May performance came after the deadline for filing annual income tax returns was moved to May 15 from the original April 15 schedule amid the energy crisis that has since weighed on household consumption.
