BOC falls short of target

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.

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.