BURS exceeds collection target by P1bn
Friday, July 13, 2018
The tax agency’s latest annual report, released on Monday, shows that total revenue collected for the 2016-2017 financial year was P3.5 billion higher than the original target for the year of P32.3 billion.
Data in the report shows that income tax collected for the year was P17.7 billion against a target of P15.7 billion, while VAT collected was P6.3 billion against a target of P7.5 billion. Customs revenues received were P11.7 billion against a target of P11.5 billion.
The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...