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MANILA, Philippines – Bureau of Customs (BOC) collections in May fell short of target despite growing by double digits from previous year’s figure.
The BOC said in a statement Thursday, June 19, that it collected P28.81 billion in May, lower than its P35.09 billion goal for the month. This however was 11% higher than the P25.93 billion it collected in May 2013.
The agency said it failed to meet its target due to fewer importations at the country’s ports.
The volume of imports in May fell 6.9%, no thanks to lower shipments of crude oil and oil products; alcohol products; computers; electronic devices; industrial machinery; mineral products; as well as paper and pharmaceutical products.
The agency said its performance nevertheless continued to improve as cash collections rose 10% year-on-year to P28.53 billion.
“Looking beyond the revenue target, our collection efficiency is improving as we enhance our reference valuation figures and improve enforcement of customs policies and procedures, surveillance, and apprehension of smuggled goods,” Customs Commissioner John Sevilla said.
“As we sustain process improvements, equip our people with better ICT tools, and continue plugging sources of revenue leaks, we expect collections to become better,” he added.
From January to May, BOC revenues amounted to P146.07 billion, 11.82% below the target of P165.66 billion, but 20% up from last year’s P121.88 billion.
For June, the BOC is tasked by the inter-agency Development Budget Coordination Committee to collect P33.29 billion. – Rappler.com
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