BOC collections hit P280.33 B in 6 mos
Collections of the Bureau of Customs (BOC) amounted to P280.33 billion in the first half, higher than the P278.13 billion target for the period, according to its head Isidro Lapeña.
The figure was also 33.32 percent higher than the P210.27 billion recorded in the same period last year.
According to the BOC, its first semester collections have already exceeded half of its P598 billion target for the whole year.
“This achievement is attributed not only to the consistent diligence of all BOC ports in terms of collection, but also to the continuing application of correct valuation and tariff classification of goods,” Lapeña said.
“Our strengthened campaign against illicit trade and our effort to improve our trade system have significantly increased the bureau’s revenue collection,” he said.
For June alone, collections reached P50.14 billion, 4.9 percent higher than the P47.8 billion target for the month and was 42 percent higher than the previous year’s collection of P35.42 billion.
According to the BOC, 16 out of 17 of the country’s ports exceeded their target last June.
These include the ports of Batangas, which collected P12.23 billion; Manila, P7.7 billion; Limay, P3.806 billion; Ninoy Aquino International Airport, P3.24 billion; Cebu, P2.44 billion; Davao, P2.41 billion; Cagayan, P1.925 billion; and Subic, P1.724 billion.
On the other hand, collections of the Manila International Container Port amounted to only P13.507 billion, below its P14.738 billion target.
Earlier, Lapeña said the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law has helped the BOC to exceed its January to May target.