The Bureau of Internal Revenue (BIR) exceeded its collection target by Php 2.3 billion in the first two months of the year, posting total revenues of Php 530.06 billion.
The agency said this figure represents a nearly 3 percent increase compared with the same period last year and is equivalent to 100.43 percent of its internal target.
The BIR noted that the early gains reflect intensified tax administration, stronger enforcement efforts, and initiatives to improve compliance among taxpayers nationwide.
The collections mark a recovery from 2025, when the agency fell short of its Php 3.2-trillion revenue target amid softer economic conditions.
BIR officials said they remain confident in sustaining revenue growth and achieving the agency’s 2026 goal of Php 3.579 trillion, with new drivers such as a projected Php 21-billion value-added tax on digital services.
The bureau acknowledged potential challenges, citing the energy price surge linked to the Middle East conflict, which prompted lawmakers to review suspending excise taxes on fuel, potentially reducing revenues by Php 136 billion.
To help ease energy costs, the BIR recently issued a memorandum granting VAT exemptions for indigenous natural gas and related power generation.