The national government’s revenue collections reached P2.87 trillion in January to July this year, higher by 5.05 percent than the P2.73 trillion recorded in the same period last year, the Bureau of the Treasury (BTr) said.

In its latest cash operations report released Thursday, Aug. 27, the BTr said tax revenues accounted for the majority of the collections at P2.59 trillion, posting a 5.66 percent increase from the previous year.

The Bureau of Internal Revenue (BIR) collections went up by 5.31 percent to P1.99 trillion from P1.89 trillion due to better taxpayer services, which supported compliance and boosted collection.

The Bureau of Customs (BOC) also reported a 7.25 percent increase in collections during the period.

As of the end of July, the BOC’s revenues amounted to P583.4 billion, driven by the significant uptick in duties and value-added tax (VAT) collection from imports primarily due to the stronger US dollar and higher crude oil prices.

The BTr said sustained collection was also supported by improved customs procedures, intensified border protection measures, digital transformation initiatives, and closer collaboration with stakeholders.

Non-tax revenues amounted to P276.1 billion.

For July alone, revenue collections reached P482.3 billion, reflecting a 2.12 percent growth from last year’s P472.3 billion.

The BIR collected P358.4 billion, up from last year’s P335.3 billion.

BOC collections also rose by 7.48 percent to P91.6 billion.

Total expenditures in January to July, meanwhile, reached P3.76 trillion, exceeding the P3.52 trillion recorded during the same period last year by 7.02 percent.

In July, disbursements rose to P588.6 billion, or 19.82 percent faster than the P491.2 billion last year.

“The expansion for the period was largely driven by the implementation of various social assistance programs under the Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT) framework to help address the impact of the Middle East conflict, disbursements for capital outlay projects under the Revised Armed Forces of the Philippines Modernization Program of the Department of National Defense, and direct payments made by development partners for various foreign-assisted rail transport projects of the Department of Transportation,” the BTr said.PNA