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Philippines: Customs exceeds April collection target
MANILA, Philippines — The Bureau of Customs (BOC) surpassed its monthly revenue target for the third consecutive month, raking in P47.39 billion in collections in April.
Based on preliminary data from the BOC Financial Service, the latest collection figure was two percent higher than the revenue goal of P46.46 billion for the month.
It was also 50.4 percent higher than the collection of P31.50 billion in the same period last year.
Customs commissioner Isidro Lapeña attributed the increase in revenue collection to the correct valuation and tariff classification of goods.
He said the bureau also generated higher excise tax during the month due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law.
According to BOC data, the volume and value of imports in April were comparably higher than last year’s levels.
“The increase in oil price and the peso-dollar exchange ratio also contributed to the increased April revenue of the BOC,” the agency said.
Fourteen collection districts exceeded their monthly goals, according to the BOC. These districts are led by the port of Batangas, which collected P11.91 billion or 10.7 percent higher than the P10.76 billion target, followed by the port of Manila, which earned P7.42 billion or 6.2 percent higher than the P6.99 billion goal.
The port of Limay generated P2.92 billion in revenue, 3.3 percent higher than the P2.83 billion target, while port of Cebu also exceeded its P2.09 billion target by collecting P2.18 billion.
Other ports which surpassed their targets are: Davao (which collected P1.81 billion), Subic (P1.68 billion), Cagayan de Oro (P1.62 billion), Iloilo (P308 million), San Fernando (P261 million), Clark (P166 million), Tacloban (P27 million), Zamboanga (P24 million), Aparri (P8 million), and Surigao (P3 million).
On the other hand, three ports failed to meet their collection quota, according to the BOC.
They are the Manila International Container Port (P13.45 billion), the Ninoy Aquino International Airport, (P3.48 billion) and Legazpi (P15 million).
Pursuant to a customs Memorandum issued by Lapeña, district collectors who failed to meet their monthly targets will be relieved from their posts and reshuffled to other positions.
For 2018, the BOC is targeting to collect P598 billion in customs duties and taxes, higher than last year’s collection of P458.2 billion.
Lapeña expressed confidence the bureau would be able to sustain its growth momentum given the reforms within the agency.
“I always tell the bureau officials and employees, we can hit the target every month. We only just have to apply the correct valuation and collect what is due the government. I think we can continue this trend until December,” he said.
Source: https://www.philstar.com/business/2018/05/04/1811863/customs-exceeds-april-collection-target#80rs1TOPqw6BQQ67.99