MANILA, Philippines -- Last year's tax take of the Bureau of Internal Revenue (BIR) fell below target as it also failed to hit the programmed collections from the new or higher excise taxes slapped under the Tax Reform for Acceleration and Inclusion (TRAIN) Act. During a House ways and means committee hearing Tuesday, BIR Assistant Commissioner Alfredo V. Misajon told legislators the country's biggest revenue agency collected P1.962 trillion in taxes last year, up 10.15 percent from the P1.781 trillion in 2017. However, the BIR's actual collections fell short of its P2.044-trillion goal for 2018 by 4.01 percent, Misajon said. The latest BIR data showed income tax collections of ...
Keep on reading: BIR missed 2018 collection goal despite new, higher taxes under TRAIN
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