Total tax collections for 2024 reached P3.55 trillion as of end-November, according to the Department of Finance (DOF).
This record marks an 11.5-percent increase from the previous year, which was driven by a 13.9-percent rise in Bureau of Internal Revenue (BIR) collections to P2.67 trillion and a 4.7-percent growth in Bureau of Customs (BOC) collections to P850 billion.
The total tax collections for the year are expected to hit P3.82 trillion, an 11.4 percent increase from 2023, representing 14.4 percent of gross domestic product (GDP), slightly up from 14.1 percent last year.
According to the DOF, a major driver of higher tax collections is the BIR and BOC’s enhanced digitalization and strict enforcement efforts.
“I commend both the BIR and BOC for their accomplishments this year. Their job is definitely no walk in the park. They carry the economy and the country’s future on their shoulders. Because of their continued efforts, we were able to fund the President’s priority projects and programs for the Filipino people this year,” DOF Secretary Ralph G. Recto said in a Dec. 27 statement.
The BIR recently completed the Online Registration and Update System (ORUS), a web-based platform for taxpayer registration and updates. As of November, the system has issued 470,387 digital tax identification number (TIN) IDs.
The completion of the enhanced Electronic One-Time Transaction (ONETT) System led to the issuance of 33,198 eCARs, generating P4.37 billion in collections for the first 11 months.
The agency likewise accelerated its Run After Fake Transactions (RAFT) drive, “which allows it to file civil, criminal, and administrative cases against sellers, users, and professionals involved in the sale and use of commercial invoices/receipts to support fake transactions.”
As of October, the BIR has issued around 1,500 assessment notices, collecting P3.44 billion.
Its Run After Tax Evaders (RATE) program had filed 21 cases from January to November, targeting P1.77 billion in tax liabilities to boost voluntary compliance and trust in the tax system.
Further, the BIR's crackdown on illicit excise goods yielded P110.33 million from 787 mission orders issued between the first 10 months.
For its part, the BOC achieved a 97 percent digitalization rate this year by launching three new systems including the Overstaying Cargo Tracking, Enhanced e-Travel, and ATA Carnet Monitoring systems.
It has also firmed up its border protection, seizing smuggled goods valued at P84.36 billion as of November.
Further, the BOC earned P166.3 million from January to November by auctioning 146 out of 305 overstaying containers. It has also collected P220.77 billion in taxes under the Fuel Marking Program, marking 18.23 billion liters as of November.
With this, Recto assured the public that further efforts are ongoing to enhance the efficiency, transparency, and integrity of the tax system to foster compliance among taxpayers.