Palace: BIR, BOC revenue hit P3.2T in 2022, exceed target

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Palace: BIR, BOC revenue hit P3.2T in 2022, exceed target
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Revenue collections from the Bureau of Internal Revenue and the Bureau of Customs have hit P3.2 trillion this year, Malacañang announced. Press Undersecretary Cheloy Garafil said that based on figu…

Revenue collections from the Bureau of Internal Revenue and the Bureau of Customs have hit P3.2 trillion this year, Malacañang announced.

The Bureau of Treasury, which publishes the revenue performance of government agencies, earlier said that as of end-October, total collections from the BIR, BOC and other agencies had reached P2.946 trillion. To finance the shortfall, the government has been borrowing heavily from both domestic and foreign lenders. As of end-October, the Philippines’ sovereign debt had already ballooned to a record P13.64 trillion.

Malacañang meanwhile claimed the higher revenue collections as among the accomplishments of the DOF under President Ferdinand Marcos Jr.

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