Customs misses 2015 revenue target

MANILA, Philippines – Despite an increase in revenue collection, the Bureau of Customs (BOC) has been consistent in missing its annual target.

BOC data show that the revenue-generating agency failed to attain its P436-billion ($9.24 billion) revenue goal in 2015 after it only collected P366 billion ($7.76 billion) – a shortfall of P70.56 billion ($1.45 billion) for the year.

Last year’s deficit was the 5th time in a row that the BOC missed its target.

The BOC’s collection report also showed that 11 of the country’s 17 ports missed their targets. The oil ports of Batangas and Limay posted the highest collection shortage during the period.

The Port of Limay fell short of its P45.27 billion ($959 million) target by P23.21 billion ($492 million), while Batangas only collected P82.32 billion ($1.7 billion) of its P96.03-billion ($2.04 billion) target.

The Port of Manila only collected P58.78 billion ($1.25 billion) out of its P73.07-billion ($1.55 billion) target.

The Manila International Container Port (MICP) and the Ninoy Aquino International Airport (NAIA) fell short of their targets by P13.31 billion ($282 million) and P3.58 billion ($75.9 million), respectively.

Also failing to meet their targets were the ports of San Fernando, Tacloban, Aparri, Subic, and Cagayan de Oro.

The Office of the Commissioner collected a tax expenditure fund (TEF) of P8.38 billion ($177 million), P1.62 billion ($34.3 million) short of its P10-billion ($212 million) target.

But the ports of Legazpi, Iloilo, Cebu, Surigao, Davao, and Clark exceeded their revenue goals.

Cebu, with a revenue target of P15.61 billion ($330 million), collected P16.49 billion ($349 million). Income generated by Davao amounted to P11.68 billion ($247 million), which is P980 million ($20 million) over its target of P10.70 billion ($226.9 million).

Iloilo achieved a surplus of P956.9 million ($20 million), Clark with P85.3 million ($1.8 million), Surigao with P6.4 million ($135,693), and Legaspi with P142.3 million ($3 million). – Rappler.com

$1=P47.165