February 4, 2021 | 12:31 am Advertisement AAA The Bureau of Internal Revenue (BIR) is streamlining the requirements and procedures for claiming value-added tax (VAT) refunds. — BW FILE PHOTO THE Bureau of Internal Revenue (BIR) is aiming to increase excise tax revenues by 13% this year, as it expects economic activity to pick up as pandemic-related restrictions are further eased. The BIR set a P332.102-billion excise tax collection target for 2021, 12.6% higher than the P294.91 billion collected last year. Excise tax collections from large taxpayers slumped by 7% in 2020, due to the strict lockdown measures and economic slowdown. The BIR attributed the higher target to the Development Budget Coordination Committee (DBCC) projection that the Philippine economy will return to a growth trajectory this year.