BIR Targets P359.6 Billion in 2024 Excise Tax Collections

The Philippine Bureau of Internal Revenue (BIR) has officially established its excise tax collection target for the current fiscal year, aiming to generate P359.6 billion. This objective represents a significant component of the agency's broader mandate to bolster national revenue through the enforcement of existing tax regulations. The excise tax regime, which covers a variety of goods including alcohol, tobacco, petroleum products, and sweetened beverages, remains a primary focus for the bureau as it works toward meeting its annual administrative goals. The BIR continues to implement strategies to enhance collection efficiency and ensure compliance across these specific sectors to reach the P359.6 billion benchmark.