BIR exceeds H1 2025 target, eyes stronger revenues from new tax reforms

The Bureau of Internal Revenue (BIR) has outperformed its collection goal in the first six months of 2025, providing a strong boost to government revenues amid ongoing fiscal consolidation efforts.

In a statement on Friday, the BIR reported that its January to June 2025 collection hit P1.554 trillion, exceeding its target by P4.594 billion. The figure also marked a 14.11 percent increase from the P1.362 trillion collected during the same period last year.

The first-half haul accounted for over 48 percent of the agency’s P3.232 trillion full-year target, signaling strong revenue momentum for the remainder of the year.

For June alone, BIR revenues rose to P200.524 billion, surpassing the monthly goal by 2.85 percent and improving 16.24 percent year-on-year.

“With the reforms introduced by the new tax laws, such as VAT on Digital Services, CREATE MORE Act and Capital Markets Promotions Act (CMEPA), we hope to increase the revenue base so we could attain and even surpass our collection target for the year,” BIR Commissioner Romeo Lumagui Jr. said.