Customs exceeds target January collection by 5.5%
The Bureau of Customs (BOC) has sustained the growth momentum in its revenue collections in January, exceeding its revenue target for the month by 5.5 percent.
Citing preliminary data from the Bureau of the Treasury (BTr), the BOC generated a total of P48.153 billion in revenues in January, P2.527 billion or 5.5 percent higher than the P45.626 billion goal.
This is also 17.9 percent or P7.322 billion higher compared to the P40.83 billion collections recorded in the same period last year.
According to the BOC, it has been able to maintain its revenue growth momentum since last year on the back of continued process improvements implemented within the agency, such as tighter monitoring of imports and proper valuation of goods.
The BOC said revenues generated in January were also derived mostly from cash collections, which refer to duties, taxes and fees, collected from goods that entered through Customs ports nationwide.
The BOC collected P585.542 billion in customs taxes and duties last year, equivalent to 100.1 percent of its full-year target.
This is also 27.8 percent higher compared to the P458.18 billion in revenue collection recorded in 2017.
For 2019, the BOC is targeting to collect P677 billion, 15.75 percent higher than last year’s goal of P584.88 billion.
To achieve this goal, Customs Commissioner Rey Leonardo Guerrero earlier said the bureau is set to roll out more aggressive reforms over the next few months, as provided under his 10-point reform plan for 2019.
These include automation to improve BOC’s processes, enhancement of cargo clearance and examination capabilities, and strengthening of institutional and individual capabilities in the area of intelligence and enforcement.
Aside from these, Guerrero also aims to fill up vacant plantilla positions, provide incentives for Customs employees, restructure the bureau’s organization and enhance BOC facilities.
He also seeks to harmonize different BOC-related issuances, create a Quality Management System and Integrity System, and pursue the passage of Customs-related legislative measures.