The Philippines government will need to improve its tax administration if it is to increase overall tax collection, the country's Department of Finance (DoF) has announced.
The announcement came after the DoF's figures revealed a drop in the tax effort (ratio of tax revenues to gross domestic product (GDP)) to 11.5% of GDP in the January-March period of this year - down from the 12.9% that was registered in the same period last year.
Taxes collected by the country's Bureau of Internal Revenue (BIR) also declined by around one percentage point on last year's figure, and although slightly less, the Bureau of Customs (BoC) also experienced a decline in tax revenues.
Commenting on the news, Finance Undersecretary for Policy Development and Management Services, Gil Beltran, stated:
"When times are difficult, taxpayers tend to pay less to save their money. It is up to tax authorities to find this out."
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