The Bureau of Internal Revenue (BIR) collected at least P2.84 trillion in 2024, exceeding its target for the first time in 20 years.
“The BIR has collected at least P2.848 trillion for 2024. All credit belongs to the men and women of the BIR. Mabuhay po kayong lahat!” BIR commissioner Romeo Lumagui Jr. said in a statement on Wednesday.
“Our dedication to good governance reforms, manifested by our shift to a taxpayer-oriented agency, has increased the voluntary compliance of taxpayers. This goes to show that if government agencies improve their services, processes, and programs, our countrymen will do the right thing and pay their proper share of taxes,” he added.
In 2024, the Development Budget Coordination Committee set a revenue collection target of P2.848 trillion for the BIR.
While the BIR met its collection goal in 2020, the target was significantly reduced due to the severe economic impact of the pandemic. It is only in 2024 that the BIR has successfully reached its full collection target for the first time in 20 years.
Lumagui vowed that the agency would continue its collaboration with the private sector and taxpayers to sustain this progress.
“You are our partner in nation-building. Without your support, we could not have reached our P2.848 trillion goal. Marami pong salamat sa inyong walang-sawang suporta sa amin,” Lumagui said.