Record Customs deficit for Aquino admin in August

MANILA, Philippines – The Bureau of Customs (BOC), the government’s second largest revenue agency, recorded a deficit of P9.1 billion ($194.7 million) in August, its highest ever since President Benigno Aquino III assumed office in 2010.

An initial collection report showed that the BOC generated P26.8 billion ($573.4 million) in revenue collection, which was way below its target of P35.9 billion ($768.2 million) for the month.

The low volume of imports was cited by the source of the report as the reason behind the revenue slump.

August, traditionally billed as a “ghost month,” was challenging for the bureau as businesses do not engage in much activity during the this period resulting in the lowest volume of shipments of any month so far this year.

Further adding to the BOC’s woes was the fact that it got the lowest rating of any government agency in an August Social Weather Stations (SWS) survey on businessmen’s perception of corruption. (READ: Perceieved gov’t corruption eases; BOC get’s ‘very bad rating’)

The report was released in the aftermath of the controversy surrounding the BOC’s supposed plan to physically inspect balikbayan boxes which drew the ire of overseas Filipino workers (OFWs) and their families.

The source, however, said that the negative public perception on BOC had “nothing to do with the revenue collections.”

Revenues by district

Thirteen of the BOC’s 17 collection districts nationwide missed their revenue targets, with the major ports leading the pack.

The report showed that the Port of Limay, an oil port, posted the highest deficit of P2 billion ($42.79 million) after it only collected P1.7 billion ($36.37 million) against its target of P3.7 billion ($79.17 million).

In Metro Manila, the Manila International Container Port (MICP) incurred the highest shortfall of P1.9 billion ($40.65 million), followed by the Port of Manila and the Ninoy Aquino International Port (NAIA), with P1.7 billion ($36.37 million) and P800 million ($17.11 million) in deficits, respectively.

The Port of Batangas, another oil port, fell short of its P7.9 billion ($169 million) target with its collection of P6.4 billion ($139 million) while the Port of Subic had a deficit of P263 million.

Collection shortfalls were also recorded in San Fernando, Davao, Cagayan De Oro, Aparri, Zamboanga, Surigao, and Tacloban.

On the other hand, these ports registered revenue surpluses: Legaspi, P3.3 million ($70,617); Clark, 19.4 million ($415,145); Iloilo, P1 million ($21,399) and Cebu, P10 million ($213,992). – Rappler.com

 $1 = P46.73