Revenue collections of the Bureau of Internal Revenue are broken down into two, namely: (1) from BIR Operations – all collections except those resulting from government borrowings by the Bureau of Treasury, and (2) from non-BIR Operations – final withholding taxes on interest payments due on and documentary stamp taxes due from government debt securities issued by the Bureau of Treasury.
BIR collected a total of PhP 890.5 billion from BIR operations or a growth of 12.92% over 2010 collection of PhP 788.6 billion. On the other hand, BIR collected PhP 33.7B from non-BIR operations or a decrease of 1.04% compared with the collection of PhP 34 billion in 2010. In the aggregate, the BIR collected a total of PhP 924.1B, 12.34% over 2010’s collection of PhP 822.6 billion. Although the growth rate is much higher than GDP growth rate and inflation combined, it was 1.69% or PhP 15.9 billion short of the 2011 collection target of PhP 940 billion.
Commissioner Kim Henares believes that the BIR have been able to put in a very credible performance, and is appreciative of the efforts of her people. However, she recognizes that there is room for improvement and the collection performance of the Bureau should improve further once the various reforms planned are put in place and fully implemented.