Digitalization cited in H1 P1.9-T revenue take | Jasper Y. Arcalas

THE state raked in almost P2 trillion in revenues in the first half, growing by 7.7 percent on an annualized rate on the back of improving economic conditions and more efficient collections by government agencies.

Diokno reported that the national government’s tax collections grew by 7.5 percent year-on-year while non-tax collections rose by 9.1 percent. Diokno explained that the digitalization efforts of the Bureau of Internal Revenue and Bureau of Customs allowed the bureaus to “maximize” the national government’s revenue potential, simplify taxpayer compliance and improve ease of doing business.

The state’s five-month revenue collection is now 50.95 percent of its target earnings of P3.729 trillion this year.

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