Collections Down 24.8% for BIR, Customs

Tax collections declined by 24.8%, almost fully a fourth year-on-year at end of May, according to the Department of Finance (DOF).

The outcome of a month long lockdown induced by the Covid-19 pandemic, Php 874.9 billion pesos was collected, a drastic drop compared to the Php 1.6 trillion pesos collected a year ago.