SPEAKER Martin Romualdez urged the Bureau of Internal Revenue (BIR) to hit its revenue collection target so that the government could ramp up spending and contribute more to economic growth.
In a statement, Romualdez said that while the BIR’s total collections increased by 17 percent last year, such growth would only bring in P2.94 trillion for the agency this year, falling short of the 2024 collection goal of P3.05 trillion.
“Year on year, the BIR’s revenue collections grew by 17 percent this year. That’s welcome news, and I credit the BIR for that,” he said. “But 17 percent growth from total collections last year will mean the BIR will fall short of P3.05 trillion target set by the economic managers.”
Congress, he said, has given the BIR the necessary tools to collect more effectively from taxpayers, particularly citing the Ease of Paying Taxes Act, which aims to modernize and increase the efficiency and effectiveness of tax administration.
“We enacted the Ease of Paying Taxes, effective this year, to digitalize most of BIR’s transactions and encourage taxpayers to comply voluntarily. The law will also broaden the base of taxpayers since we made registering as a taxpayer simpler, more convenient, and above all free,” he said.
Romualdez noted that the country’s economic growth this year depends in large part on the government carrying out this year’s budget, emphasizing the need to fund both programmed spending and unprogrammed appropriations to meet the growth targets for 2024.
“Of course, the sooner the BIR can collect the cash, the faster the government can fund its programs. Government final expenditure grew by only 1.7 percent during the first quarter, so I’m hoping that the BIR will be able to collect more in the second quarter so government spending can also catch up,” he said.
“Tax is the lifeblood of government, and the vitality of economic growth this year depends on whether the BIR can supply that lifeblood.” (PNA)
