REVENUE MEMORANDUM ORDER NO. 29-2024 issued on July 22, 2024 amends Revenue Memorandum Order No. 11-2024, prescribing the revised allocation of the CY 2024 BIR Collection Goal by Implementing Office.

The BIR’s CY 2024 collection target was revised to ₱3,046,751 Million as approved through the Development Budget Coordination Committee (DBCC) Ad Referendum last July 12, 2023. The BIR’s revised revenue target is lower by ₱8,418 Million or 0.28% from the previous goal of ₱3,055.169 Million, and is higher by ₱529,764 Million or 21.05% from CY 2023 collection of ₱2,516,987 Million. The revised breakdown by tax type was based on the Budget of Expenditures and Sources of Financing 2024 Program received on April 4, 2024.