The Philippine Star

BOC’s Oct collection up 22%

- By ZINNIA B. DELA PEÑA

Revenue collection­s by the Bureau of Customs posted a new monthly record high in October due to higher volume of imported goods and improvemen­ts in valuation.

The BOC recorded revenues of P34.16 billion last month, up 22.6 percent from October 2013 despite the challenges brought about by congestion at the country’s main ports.

However, this was still below the agency’s goal for the month of P36.81 billion.

This brings BOC’s total collection­s to P299.95 billion from January to October this year or 18.6 percent higher than the P252.88 billion reported in the same period last year.

A surge in consumer demand and clearing-out of shipments at the ports propelled a 31.8 percent increase in import volume while improvemen­ts in the bureau’s processes and continued reforms translated to a 34.4 percent growth in the valuation of goods and a 30.17 percent hike in duties and taxes collected, the BOC said.

The Manila Internatio­nal Container Port accounted for P81.26 billion or more than a fifth of total BOC revenues during the first 10 months.

The Batangas port collected the second biggest haul with P66.59 billion followed by the Port of Manila with P51.56 billion.

Others that contribute­d substantia­lly to BOC’s revenues were the Lima Port (P32.72 billion), Ninoy Aquino Internatio­nal Airport (P23.49 billion) and the Cebu Port (10.86 billion).

The ports of Batangas, Iloilo, Cebu, Cagayan de Oro, Davao, Subic and Aparri exceeded their collection target for the period, the BOC said.

Cash collection­s, which net out importatio­ns that are booked as tax expenditur­e funds or non-cash collection­s recorded on paper for government transactio­ns, increased by 28.5 percent in October.

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