BOC exceeds collection target anew

For the eighth straight month, the Bureau of Customs (BOC) once again hit its revenue goal last September, collecting P52.4 billion in tariff and duties amid higher import volume, weaker peso and improved enforcement.

Preliminary data from the BOC’s Financial Service showed that the bureau’s collection last September hit P52.4 billion, 0.9 percent higher than the P51.956 billion target for the month.

This was also 30.2 percent higher than the P40.26 billion collected by the agency in the same month last year.

For the first eight months, the BOC’s total collections as of end-September reached P435.964 billion, 34.6 percent up from last year’s level of P323.824 billion.

The BOC said it also exceeded its January to September target of P429.564 billion by 1.5 percent.

This means the BOC still has P162.136 billion in revenue to collect in order to hit its fullyear target of P598 billion.

“I would like to emphasize that the bureau has been consistently hitting and exceeding the monthly targets since February. We will further step up our collection efforts so that we can hit the full-year target by December. The bureau is bent on helping the national government fuel its projects for the people,” Customs commissioner Isidro Lapeña said.

According to the BOC Financial Service, the continuous improvement in the bureau’s revenue performance this year could be attributed to the increased volume and value of traded goods, as well as the higher exchange rate.

Improved enforcement and correct valuation and tariff classification in all ports also contributed to better collection, it said.

The Financial Service also reported that 14 out of 17 ports in the country met their respective collection targets last September.

These include the ports of Batangas (with P12.176 billion in collections, Limay (P3.642 billion), Ninoy Aquino International Airport (P3.591 billion), Cebu (P2.669 billion), Davao (P2.535 billion), Subic (P2.189 billion), Cagayan de Oro (P1.816 billion), Iloilo (P388 million), San Fernando (P288 million), Clark (P145 million), Legaspi (P71 million), Tacloban (P41 million), Zamboanga (P29 million), and Aparri (P5.09 million).

On the other hand, the BOC said the Manila International Container Port, Manila and Surigao failed to meet their targets last month.

Meanwhile, the Bureau of Internal Revenue (BIR) in a separate statement said yesterday it has collected P115.77 billion in taxes last September.

This was 4.6 percent lower than the bureau’s September target of P121.08 billion, and 18.13 percent below the BIR’s collection of P141.4 billion in the same month last year.