Customs collection above target in May

Collection of the Bureau of Customs (BOC) rose to another all-time high of P52.60 billion in May, surpassing by 3.9 percent the P50.63 billion target for the period.

Based on the report of the Financial Service Group of the BOC, the latest figure was 32 percent higher than the previous year’s P39.84 billion.

Year-to-date, the accumulated collections from January to May reached P230.18 billion, higher than the P223.86 billion target, and the P174.9 billion actual collection for the same period last year.

Customs commissioner Isidro Lapeña said the BOC was able to achieve another milestone as 16 out of 17 ports nationwide exhibited strong performance and surpassed their collection goal last month.

These are the ports of Batangas with P14.45 billion, Manila with P8.08 billion, Limay with P3.46 billion, and the Ninoy Aquino International Airport with P3.16 billion.

The port of Cebu also collected P2.4 billion last month, surpassing its goal by five percent, while the port of Davao brought P1.94 billion in revenue, also up 19.2 percent from target.

Other ports which met their collection targets are Cagayan de Oro (P1.87 billion in revenues), Subic (P1.85 billion), Iloilo (P323 million), San Fernando (P298 million), Clark (P173 million), Zamboanga (P58 million), Tacloban (P47 million), Legazpi (P25 million), Appari (P16 million), and Surigao (P2.2 million).

On the other hand, the Manila International Container Port was unable to hit its revenue target of P15.61 billion, collecting only P14.2 billion in May.

Lapeña also attributed the improved collection perfomance of the BOC and its ports to the 3.3-percent increase in the volume of imports last month.

“The value of imports also grew by 17.8 percent. I will say this is because of the continuing application of correct valuation and tariff classification of goods,” Lapeña said.

The BOC chief also said the increase in foreign exchange and global oil prices, and growth in the importation of motor vehicles, crude oil, foodstuff, iron and steel, and petroleum products contributed to the May collection.