NEWS UPDATES! BIR hits 2024 collection target; ends 20-year drought

*BIR Media Release*

_January 15, 2025_

*Lumagui: BIR hits 2024 collection target; ends 20-year drought*

Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui, Jr. announced that the BIR has reached its 2024 collection target of Php 2.848 trillion. This is the collection goal approved by the Development Budget Coordination Committee (DBCC) last March 22, 2024. This is the first time in twenty (20) years since the BIR achieved its full collection goal.

"After 20 long years, the BIR has finally reached its full collection target. The BIR has collected at least Php 2.848 trillion for 2024. All credit belongs to the men and women of the BIR. Mabuhay po kayong lahat!" Commissioner Lumagui stated.

Although the numbers are still being finalized, the BIR confirms that they have reached the Php 2.848 trillion mark for 2024. The numbers will be finalized by mid-February 2025, and by then, the collection figures will only increase. 

Commissioner Lumagui attributes this historic moment to the efforts and sacrifices made by the revenuers of the BIR. Their dedication to the different reforms of Commissioner Lumagui stands as the foundation upon which this achievement is built on.

"Our dedication to Good Governance reforms, manifested by our shift to a taxpayer-oriented agency, has increased the voluntary compliance of taxpayers. This goes to show that if government agencies improve their services, processes, and programs, our countrymen will do the right thing and pay their proper share of taxes" Commissioner Lumagui stated.

Commissioner Lumagui has led the way in making sure that these reforms are brought to life. He made sure that the BIR focused on his Four Pillars of Good Governance. This is comprised of 1.) Fearless and Aggressive Enforcement Activities, 2.) Excellent Taxpayer Service, 3.) Integrity and Professionalism of the Institution and its Employees, and 4.) Digitalization.

Commissioner Lumagui also pioneered the fight against Ghost Receipts, through the creation of the Run After Fake Transactions (RAFT) task-force. He also leveled the playing field between retail and online stores by implementing a witholding tax system against the latter.

"The BIR will continue its cooperation with the private sector and its taxpayers. You are our partner in nation-building. Without your support, we could not have reached our Php 2.848 trillion goal. Marami pong salamat sa inyong walang-sawang suporta sa amin" Commissioner Lumagui stated.

Although the BIR reached its collection goal last 2020, the collection target then was substantially lowered due to the dire economic effects of the pandemic. It is only in 2024 when the full collection target was reached, for the last 20 years.

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