• BoC hits P42B in revenue collection in Oct but still short of P468B target for 2017


    THE Bureau of Customs hits more than P42 billion in revenue collection in October, according to the Bureau of Customs-Financial Service (BoC-FS).

    It is the second month in a row that the BoC hit high collections since Customs Commissioner Isidro Lapena took office in September.

    Customs records showed that it was “the highest monthly collection in the agency’s history,” although the BoC was still P124 billion away from meeting its 2017 assigned collection target of P468 billion.

    Based on initial report, the agency improved its cash collection for October to P42.006 billion, beating the P40.182 billion posted in September.

    The amount is equivalent to 98 percent of the target cash of P42.540 billion based on Budget of Expenditures and Sources of Financing (BESF).

    Prior to Lapena’s assumption as customs chief, the average monthly collection was only at P35 billion. WILLIAM B. DEPASUPIL



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