THE DEVELOPMENT Budget Coordination Committee (DBCC) trimmed its tax revenue projections for this year, as it cut the Bureau of Internal Revenue (BIR) target by 1% amid expectations of slower economic growth.
Data from the DBCC showed it cut its overall revenue projection for 2026 by 0.33% to P4.807 trillion, equivalent to 15.78% of gross domestic product (GDP), from the P4.823 trillion or 15.8% of GDP approved during its 192nd meeting in December.
The revised projection is also 3.5% lower than the P4.983-trillion program under the 2026 Budget of Expenditures and Sources of Financing.
Tax revenues are now expected to account for P4.442 trillion or 92.4% of total revenues this year, 0.7% lower than the P4.474 trillion projected in December.
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