BIR collections hit P358B in July

Bureau of Internal Revenue. FILE PHOTO

MANILA, Philippines — The Bureau of Internal Revenue (BIR) outpaced its July collection target by over P22 billion, keeping it on track to hit its revised full-year goal.

In a statement on Wednesday, the BIR said gross collections reached P358.44 billion in July, up 5.7 percent from P339.03 billion in the same month last year. This allowed the agency to exceed its P336.07-billion monthly target by P22.37 billion, or 6.66 percent.

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