BIR-E. Visayas exceeds target for 1st quarter

published April 26, 2012 in BusinessWorld

PALO, LEYTE -- The Bureau of Internal Revenue (BIR) in Eastern Visayas exceeded its collection target for the first quarter of this year with the implementation of the Salary Standardization Law translating to more withholding taxes.

The bureau collected P1.06 billion in taxes from January to March, slightly higher than its P1.02-billion target and last year’s collection for the same period.

Arsenia C. Gente, chief of the BIR regional office collection division, said the unit collected an additional P129.77 million in withholding taxes.

All revenue district offices exceeded their goals except the field office in Maasin City which posted a shortfall of 8%. The Borongan office posted the highest excess at 10.39%.

“We are more optimistic about hitting the P4.4-billion target for Eastern Visayas this year,” Ms. Gente told BusinessWorld.

Also contributing to the higher revenues were the rise in remittance from infrastructure projects and bigger volume of sand and gravel extractions. -- S. Q. Meniano