BOC collects P40B in Nov., surpassing target
THE Bureau of Customs' ( BOC) revenue collection has increased in November to P40.239 billion, surpassing its target by 12 percent.
The BOC's target collection for November as set by the Development Budget Coordinating Committee was P36.450 billion, said Customs Commissioner Nicanor Faeldon.
The November collection was 27 percent higher than the P29.061 billion collection posted for the same month last year.
The enhanced revenue collection was attributed to the positive trust rating of Faeldon, top cooperation of stakeholders, transparency in BOC transactions, and full efforts of traders in helping the agency to increase revenue collection, the agency said.
“In our outlook assessment report, the current collection record
BOC’s target collection for November as set by the Development Budget Coordinating Committee was P36.450 billion
has exhibited a better leadership performance in past five months in 2016, covering July to November,” the BOC's Financial Service ( FS) said in the report.
The FS cited that out of the 17 BOC ports, the Manila International Container Port ( MICP) has posted a huge P1 billion surplus from its P10.367.14 billion revenue target for November, with its top collection record of P11.362.52 billion.
Lawyer Danilo G. Ballena, Jr., chief of staff of current MICP Collector Vincent Philip Maronilla said, that the P1 billion surplus in its revenue collection for November can be attributed to the positive outlook on Commissioner Faeldon and the increase of volume of imports in the port brought about by the twin holidays, namely the Christmas season and the Chinese New Year holidays.
“We are targeting to improve more on our revenue collection performance to support Commissioner Faeldon's revenue collection efforts from today towards the future,” Ballena said. Faeldon also cited his constant consultation with the country's 11,000 importers, the general public, and social media, on some strategic cooperation to boost the government's efforts to curb corruption and smuggling for the greater purpose of correctly collecting duties and taxes that are earmarked to fund government development programs and projects.