Finance department expects P2.71T tax collection in 2021 as economy reopens further

📆 2020/09/10 20:24:00
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MANILA - Finance Secretary Carlos Dominguez on Thursday said the government expects to collect some P2.

71 trillion in taxes in 2021 as the Philippines continues to ease economic restrictions linked to the COVID-19 pandemic.

The Bureau of Internal Revenue and the Bureau of Customs "achieved pretty close to 95 percent" in collections, the Finance chief said. But Sen. Grace Poe noted that while the BIR and BOC nearly reached 100 percent of their target, the agencies still lose billions due to "technical smuggling."

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