BURS tax target rises to P66bn
Friday, February 20, 2026 | 560 Views |
Higher mountains: The BURS’ collections in 2026-27 will make up 86% of total budget revenues PIC: KENNEDY RAMOKONE
The enactment of higher tax rates for personal income, corporates and the International Financial Services Centre (IFSC) companies, as well as the reduction in the number of goods and services zero-rated for VAT, is also expected to boost collections.
Draft estimates published by the Finance Ministry as part of the 2026–2027 budget documents indicate that the BURS’ targets for the upcoming year represent a near nine percent increase on the collections target for the 2025–2026 financial year, which ends on March 31. In absolute figures, the draft estimates suggest the BURS is tasked with collecting P5.19 billion more in the 2026–2027 financial year.
“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...