Govt revenues sufficient without new taxes after Q1 collection surge

The Philippine government has sufficient revenues to cover its expenses without needing to impose new taxes, thanks to a double-digit increase in tax collections.

Total tax collections reached over ₱930 billion in the first quarter of 2025, marking a nearly 14 percent growth from the previous year.

The Bureau of Internal Revenue (BIR) contributed the largest portion, collecting ₱690.4 billion, an increase of nearly 17 percent.

The Bureau of Customs (BOC) collected ₱231.4 billion, showing an almost six percent growth.

These strong collections are attributed to the continued success in tax administration, digitalization, and enforcement efforts by both revenue agencies.

Department of Finance Secretary Ralph G. Recto confirmed that current revenues are adequate to meet obligations, fund programs, and support economic growth without new taxes.