The Bureau of Internal Revenue (BIR) exceeded its revenue collection target for the first half of 2025, reflecting strong momentum amid a downward revision of the full-year goal due to weaker-than-expected economic growth.
BIR Commissioner Romeo Lumagui Jr. announced that their collections in the first half-year were 0.5 percent above the first-half target, boosted by relentless efforts to improve taxpayer compliance and widen the tax base.
“We are proud to say that we have achieved that PHP1.5 trillion [target] for the first half of the year. So, the BIR is really doing well for the first semester,” Luamgui said.
The BIR had managed to outperform expectations for the first half, just as the Development Budget Coordination Committee decided to reduce the national revenue program for 2025 on the basis of the deteriorating economic conditions. It reduced the national revenue target from P4.644 trillion to P4.520 trillion. A little reduction was also made in the BIR’s collection goal from P3.232 trillion to P3.219 trillion.
The country’s GDP growth rate has been adjusted from the previously predicted 6.5 to 7.5 percent to 5.5 to 6.5 percent.
According to Lumagui, this means that further recalibration of targets may still took place as the economy adjusts.
