The Bureau of Internal Revenue had a total of Php 822.39 billion in revenues for the government from January to December 2010. Compared to year 2009 collection of Php 750.29 billion, collection for 2010 is higher by Php 72.10 billion, indicating a growth of 9.61%.
A noteworthy recovery from the negative 3.6% yearend collections growth experienced in CY 2009.
For the first half of 2010, from January to June, revenues generated by the Bureau expanded by about 8%, while for the second half, from July to December, collection growth improved to about 12% year-on-year.
According to Commissioner Kim Henares “By the end of 2011, the Bureau is expected to grow its tax collections by more than 14%. The improving trend in 2010, gives me confidence that we can reach our target by the end of this year”.