Recto targets P4.3 trillion tax collection in first priority

Newly appointed Finance Secretary Ralph Recto's first priority is to collect P4.3 trillion in taxes to fund the country's needs and ensure fiscal sustainability.

Recto stated that his goal is to collect approximately P20 million in taxes daily.

The Bureau of Internal Revenue is expected to contribute P3 trillion to the target collection.

The Bureau of Customs is tasked with collecting P1 trillion, while the Bureau of Treasury is expected to raise P300 million.

Recto emphasized the importance of funding the national development plan through efficient tax collection.