Cus­toms col­lec­tions up 18.7% in Sept

The Philippine Star - - BUSINESS - – Lawrence Agcaoili

Im­port du­ties and taxes col­lected by the Bu­reau of Cus­toms (BOC) jumped 18.7 per­cent to a monthly record high of P39.54 bil­lion in Septem­ber, miss­ing its monthly tar­get by a hair­line.

Last month’s cash col­lec­tion was the high­est achieved for a month and ex­ceeded the col­lec­tion of P33.3 bil­lion in the same month last year, ac­cord­ing to Cus­toms com­mis­sioner Isidro Lapeña.

“The bu­reau is happy to re­port that we were able to make sig­nif­i­cant im­prove­ments in terms of col­lec­tion. We were look­ing at the fi­nan­cial re­ports dat­ing back 2010, and our di­rec- tor for fi­nan­cial ser­vice, Cecile So­ri­ano re­ported that in­deed this is the first in BOC his­tory, even if we re­viewed records far­ther back in 2010,” Lapeña said.

De­spite the record high col­lec­tion in Septem­ber, the ninemonth tally of P324.84 bil­lion was still below tar­get. It was, how­ever, 12.8 per­cent higher than the pre­vi­ous year’s col­lec­tion of P287.9 bil­lion.

Lapeña said the bu­reau col­lected a record P3.31 bil­lion on Sept. 28 and P3.19 bil­lion on Sept. 30, the first time it breached the P3 bil­lion level.

The BOC chief traced the im­prove­ment of the col­lec­tion per­for­mance to the 20.92 per­cent in­crease in val­u­a­tion com­pared to last year of the same pe­riod.

The bu­reau was able to col­lect du­ties and taxes for Septem­ber based on the to­tal du­tiable value of im­ports amount­ing to P420. 2 mil­lion com­pared to the as­sessed du­tiable value of P347.5 mil­lion in the same month in 2016.

Lapeña has called on all dis­trict col­lec­tors, ex­am­in­ers and ap­prais­ers to ap­ply the cor­rect val­u­a­tion in­stead of us­ing bench­mark­ing.

“We will try our best, and I am op­ti­mistic that we will be able to fully hit our tar­get by year-end,” Lapeña said.


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