The Bureau of Internal Revenue Philippines, Bureau of Customs PH and Bureau of the Treasury dramatically exceeded revenue collections for the first four months of this year.
According to the official Facebook Page of the Department of Finance, more revenues collected, will results more funds for public services and infrastructure investment for the people. The positive news also happened because of the proper implementation of the Tax Reform Law for Acceleration and Inclusion (TRAIN) Law.
Revenues from the TRAIN Law will help fund the Build Build Build program, among others, that is set to boost the economy towards more inclusive growth.
The Bureau of Internal Revenue collected around P232.6 billion for the month of April, which is up by 24 percent or P44.9 Billion better compared to the year 2017.
The Bureau of Customs on the other hand collected P46.8 billion for April 2018, up by 31 percent over the last year to total P176.6 billion while the Bureau of Treasury's income reached P37.0 billion or up 23 percent from 2017, while non-tax revenue from other offices amounted to P504. Billion, up 32 percent year-on-year.
The Department of Finance under the leadership of Secretary Carlos "Sonny" Garcia Dominguez III stated that the impressive increase in revenues, particularly on tax collections by revenue agencies for the first four months of 2018, as a result of the effective implementation of the TRAIN Law, enabled the government to sustain its aggressive spending policy without breaching the programmed budget deficit.
According to the official Facebook Page of the Department of Finance, more revenues collected, will results more funds for public services and infrastructure investment for the people. The positive news also happened because of the proper implementation of the Tax Reform Law for Acceleration and Inclusion (TRAIN) Law.
Revenues from the TRAIN Law will help fund the Build Build Build program, among others, that is set to boost the economy towards more inclusive growth.
The Bureau of Internal Revenue collected around P232.6 billion for the month of April, which is up by 24 percent or P44.9 Billion better compared to the year 2017.
The Bureau of Customs on the other hand collected P46.8 billion for April 2018, up by 31 percent over the last year to total P176.6 billion while the Bureau of Treasury's income reached P37.0 billion or up 23 percent from 2017, while non-tax revenue from other offices amounted to P504. Billion, up 32 percent year-on-year.
The Department of Finance under the leadership of Secretary Carlos "Sonny" Garcia Dominguez III stated that the impressive increase in revenues, particularly on tax collections by revenue agencies for the first four months of 2018, as a result of the effective implementation of the TRAIN Law, enabled the government to sustain its aggressive spending policy without breaching the programmed budget deficit.
Source: Department of Finance FB Page
Revenue Collection of BIR, BOC & BOT Exceeds Target for the First Quarter of 2018
Reviewed by Phil Newsome
on
June 07, 2018
Rating:
Reviewed by Phil Newsome
on
June 07, 2018
Rating:
