BOC falls short of target

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Collections by the Bureau of Customs (BOC) managed to pick up in October as the bureau generated P27.86-billion in revenues, or 3.4 percent higher compared to the collections made from the previous month. However, that figure was still short of the target for the month.

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In a statement, BOC said that its revenues grew for the fourth month in a row, however, in terms of total collections for October, it fell 8.7-percent short of the P30.5-billion target for the month. Bureau of Treasury data showed that cash collections from the BOC’s port operations reached P26.56 billion, while revenues from the Tax Expenditure Fund (TEF), which are noncash collections recorded on paper for government transaction such as rice importations by the National Food Authority, reached P1.3 billion.

From January to October, BOC’s total revenues reached P252.49 billion, growing 4.9 percent from the same period last year, but 10-percent short of the target set by the interagency Development Budget Coordination Committee. The bureau added that 10 of the 17 Customs collection districts exceeded their collection targets for the month, noting that the Manila International Container Port (MICP), Port of Manila and the Batangas Port continued to contribute the lion’s share of the agency’s revenue collections in October, totaling to over P19 billion.

“While October is usually the month when importations surge due to the holiday demand, jitters caused by the swift changes at the agency have affected our collections. But as the situation stabilizes, we are optimistic that our revenue growth will rebound to double-digit level. Note that despite the changes that have occurred of late, we managed to keep our collections on the positive level,” said Customs Commissioner Ruffy Biazon.

The BOC said that to date, six of its 17 collection districts are on track to meet their 2013 targets, namely the ports of Iloilo, Cebu, Cagayan de Oro, Davao, Subic and Clark.

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