BIR releases P23.6 billion in tax refunds

MANILA, Philippines — Tax refunds to taxpayers and businesses almost doubled to P23.67 billion from January to September, according to the Bureau of Internal Revenue (BIR)

The amount recorded during the nine-month period was 90.6 percent higher than the P12.42 billion in tax refunds released in the same period last year.

“These are lawful refunds due to our taxpayers. Once a refund has been properly evaluated and approved for release, we see no reason to unnecessarily delay it,” BIR Commissioner Charlito Martin Mendoza said in a statement.

Mendoza said the agency seeks to return the money to businesses so they could use it for operating expenses, preserve cash flow and keep their operations moving, particularly amid the ongoing energy crisis.

The tax agency said the faster processing of refunds is part of efforts to streamline transactions for businesses, in line with President Marcos Jr.’s directive and Finance Secretary Frederick Go’s push to make government transactions easier, faster and less costly for businesses.

“Tax administration is not only about collecting what is properly due to the government. We must also return what is properly due to the taxpayer once the claim has been evaluated and approved,” Mendoza said.

Latest data from the Bureau of the Treasury showed that the BIR collected P2.24 trillion from January to August, up by 4.6 percent from P2.14 trillion a year earlier.