Manila, June 15 -- The Bureau of Internal Revenue (BIR) exceeded its revenue collection goal in May by PHP78.22 million.

In a statement Monday, the BIR said gross revenues reached PHP279.13 billion in May, higher by 14.15 percent from the total collection in the same month last year and also exceeding the PHP279.056 billion target during the month.

BIR Commissioner Charlito Martin Mendoza said the high collection in May was due to the extended income tax return filing and the continued cooperation of taxpayers in meeting their tax obligations.

For the first five months of the year, BIR's collection reached PHP1.434 trillion, higher by 5.49 percent year-on-year and also exceeded the Bureau's PHP1.424 trillion target.

"The extension gr...