The government’s top revenue agencies remain confident in meeting their revised full-year targets after posting higher collections in the first half.
The Bureau of Internal Revenue collected P1.65 trillion in the first six months, up 5.33% from P1.567 trillion a year earlier, though figures remain tentative pending reconciliation.
BIR Commissioner Charlito Martin R. Mendoza said stronger economic activity in the second half will support tax collection, particularly value-added, percentage, and other business taxes.
The Philippine economy grew just 2.8% in the first quarter, the slowest pace since the pandemic and well below the 5.37% expansion recorded a year earlier.
Planners cited lingering effects of a corruption scandal and Middle East tensions as drags on growth, but expect recovery in the second semester as public spending accelerates.
The BIR’s first-half haul represents 48.6% of the downwardly revised P3.393-trillion collection target for the year.
Mendoza acknowledged the goal remains a tall order, requiring nearly 10% growth from last year’s P3.1 trillion, but said the agency is on track following a P38-billion target reduction.
He pointed to nonresident digital service providers and excise taxes as key areas for stronger collections through year-end.
The Bureau of Customs saw its 2026 target raised by P7.2 billion to P1.011 trillion, a 0.7% increase linked to a weaker peso assumption of P60–P62 per dollar.
Customs Commissioner Ariel F. Nepomuceno said the adjustment reflects forex movements and expected economic growth, and can be met using a P11.8-billion first-half surplus.
BoC collections rose 7.2% to P491.75 billion in the first half, exceeding the period target by 2.4%.
Nepomuceno said improved assessment rates at certain ports could lift revenues without departing from the transaction value regime that honors importers’ declared prices.
