Daily News

Online payments hit 77% of total tax collections, BIR says

Around 77% of all taxes collected as of mid-June were coursed through electronic payment (e-payment) channels, the Bureau of Internal Revenue (BIR) reported, after the lockdown coincided with income tax season. The BIR collected P664.74 billion in the five months to May, the latest available period for which data are available, down 27% from a year earlier. The Department of Finance (DOF) said the share of electronic payments by value was exhibiting an upward trend in recent years, with e-payments accounting for 84% of total collections in 2019, up from 80% share in 2015.