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Philippines: Customs exceeds target collection for 2nd month
MANILA, Philippines — Fresh from surpassing its collection target in 2021, the Bureau of Customs (BOC) sustained its revenue efforts as it raised more than 17 percent of its 2022 goal just two months into the year.
The BOC collected P59.04 billion in February, beating its target for the second straight month this year. It planned on generating just P50.3 billion, but managed to exceed the figure by nearly P9 billion on improved efforts from most ports.
Customs Commissioner Rey Leonardo Guerrero said 14 of the 17 collection districts either hit or went beyond their target numbers last month. They include the Manila International Container Port and the Ports of San Fernando, Manila, Batangas, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri and Limay.
A total of P117.52 billion was collected in the first two months of 2022, accounting for 17.3 percent of the P679-billion revenue target for the year.
Guerrero attributed BOC’s February performance to the consistency of its agents in collecting duties, as well as the improvement in the valuation of incoming shipments.
“Customs’ positive performance continues to highlight the bureau’s consistent and positive monthly collection for consecutive months and is attributed to improved valuation and intensified collection efforts of all the ports,” Guerrero said.
“Aside from this positive performance, the bureau maintained border security measures against undervaluation, misdeclaration and other technical smuggling, and collected lawful revenues,” he said.
Source: https://www.philstar.com/business/2022/03/03/2164481/customs-exceeds-target-collection-2nd-month