Customs misses revised target by P2.57B in September

MANILA, Philippines – Despite tempered expectations, the Bureau of  Customs (BOC) missed its revised target in September by P2.57 billion ($53.5 million). 

An initial collection report showed that 10 out of the country’s 17 major ports failed to hit their collection target and have generated P33.95 billion ($706.86 million) in total revenues.

This is a P2.57-billion shortfall, based on the BOC’s new revenue goal of P36.52 billion for the period. The original target was P43.52 billion.

Ports that missed their targets in September were the ports of Manila, which collected P1.05 billion; Ninoy Aquino International Airport, P610 million; Legazpi, P18.2 million;  San Fernando, P92.3 million; Tacloban, P5.6 million; Surigao, P800,000; Cagayan De Oro, P116.9 million; Subic Freeport, P322 million; Aparri, P32.3 million; and Limay, P940 million.

All of these were cash collections from the ports and did not include the tax expenditure fund (TEF), or paper revenues from the importation of the government agencies.

The Manila International Container Port (MICP) collected P78 million more than its target for a total of P10.58 billion and is nearing its P10.601 billion target, according to the BOC.

The others are:

• Port of Clark: P225.2 million collected, P118 million target (190.9%)  
• Port of Iloilo: P211.8 million collected, P182.6 million target (125.3%)
• Port of Zamboanga: P19.5 million collected, P16.3 million target (120.1%)
• Port of Cebu: P1.759 billion collected, P1.507 billion target (116.7%)
• Port of Davao: P1.052 billion collected, P987.5 million target (106.5%)
• Port of Batangas: P8.529 billion collected, P8.069 billion target (105.7%)

In a statement, Customs Commissioner Nicanor Faeldon welcomed the “improvement” in the BOC’s revenue collections since he assumed office, noting that the September revenue is higher year-on-year, or compared to P32.651 billion collected in the same month in 2015.

He noted that the September figure is almost P1 billion higher than the collection in August.

While the collections have increased month-to-month since Faeldom took over, these fall below the modified targets.

In early September, the Development Budget and Coordination Committee (DBCC) lowered the BOC’s 2016 collection target from P498.67 billion to P409 billion, which had allowed the agency to lower its monthly targets.  – Rappler.com

US$1 = P48.14