BOC breaches collection goal, nets ₧46.1B in Feb

THE Bureau of Customs (BOC) breached its February collection target as it posted revenue of P46.145 billion.

In a statement on Monday, the BOC said its collection was 9.5 percent or P3.988 billion above its P42.157-billion goal for the month.

“Indeed, the bureau continues to prove the intensified collective efforts of all ports this year, not to mention, the improvement of volume of importation while maintaining border security and trade facilitation,” the bureau said.

Preliminary reports from Bocfinancial service indicated that 10 of the 17 Collection Districts surpassed their collection target for February, namely, the Port of Legaspi, Port of Tacloban, Port of Cagayan De Oro, Port of Subic, Port of Batangas, Port of Iloilo, Port of Clark, Port of Davao, Port of Manila and Manila International Container Port.

In January, the BOC also surpassed its monthly revenue collection target by 7.4 percent or P3.277 billion.

Customs Assistant Commissioner and spokesman Vincent Philip Maronilla told Businessmirror they are optimistic that they can exceed the P616.7-billion target for this year.

“As long as the trade environment remains consistent with the macroeconomic protections of the DBCC (Development Budget Coordination Committee) we are confident that we will surpass our annual target,” Maronilla said in a message.

The full-year goal set for BOC this year is significantly higher by 21.84 percent than the downgraded target set for the BOC at P506.15 billion last year.

The bureau’s total revenue collection last year reached P539.7 billion, above its full-year revenue collection target by 6.6 percent or P33.5 billion.

The downgraded goal for BOC last year was a 30.76-percent cut from the original target of P731 billion.