The government’s two major revenue-generating agencies defied the impact of the global outbreak to breach collection targets.
Preliminary data from the Department of Finance (DOF) showed the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) collected a combined P2.43 trillion in 2020 despite the economic downturn resulting from the coronavirus disease 2019 (Covid-19) pandemic.
A report by the DOF’s Revenue Operations Group (ROG) to Finance Secretary Carlos Dominguez III shows last year’s collection of the two agencies was P246.39 billion or 11.27 percent over the P2.187-trillion revised target set by the Development Budget Coordination Committee (DBCC) on July 23 last year.
For 2020, the BIR collected P1.899 trillion while the BOC reported collections of P533.88 billion, Finance Assistant Secretary Dakila Elteen Napao of the ROG said in his report during a recent DOF Executive Committee (Execom) meeting.
Napao said the BIR’s 2020 collection was P213.84 billion, or 12.68 percent in excess of the revised DBCC target of P1.685 trillion for the year while BOC’s collection was over P32.55 billion, or 6.49 percent more than the revised DBCC goal of P501.33 billion, he added.