The Bureau of Internal Revenue is in the midst of crucial major reforms. We are completing the evaluation of our various core processes, such as those of registration, filing and payment, auditing and collection, and have started and needs to complete the reengineering of these processes. In addition, we are enhancing our Information Taxpayer Systems, built during the 1990s, with the assistance of the grant from the Compact Program of the Millennium Challenge Corporation.
These major efforts are being undertaken to enable us to meet the ever-increasing challenge of reaching revenue collection targets given to us annually. The Government’s tax collection efforts provide the government with the funds needed to spur economic development and fund social programs to ensure that the benefit of economic growth will trickle down to the less fortunate members of our society.
Although the Bureau of Internal Revenue has increased its tax efficiency and has been able to register double digit growth since the start of the Aquino administration, much revenue is still needed. As reflected in our increasing target allocations, last year, we collected P924 Billion, this year, we are asked to collect P 1.066 Trillion, and next year we need to collect approximately P 1.2 Trillion. I feel that at this time, the reform we are undertaking in the BIR is as significant as the judicial reform that needs to be undertaken in the Supreme Court. Inasmuch as revenues are needed by the Government to sustain economic progress, it is important to sustain the reforms we are undertaking in the BIR as these changes provide the backbone for reforms in the Bureau of Internal Revenue, and are among the major milestones to be achieved to prepare the revenue agency for the future.
Although I am honoured by the faith and confidence reposed upon me by the people who nominated me to the Chief Justice position, I regret I could not accept the nomination.