AMID increased importation ahead of the holiday season, the Bureau of Customs (BOC) has expressed confidence that it will meet and even exceed its annual revenue target.
Speaking to reporters in Malacanang, Customs spokesman Neil Anthony Estrella said Tuesday that the BOC is “very likely to exceed” this year’s revenue target, citing the continuous increase in the volume of imported goods.
“The factors are the continuous pasok po ng ating mga kargamento. Hindi po nagbabawas, bagkus, dumadami ho ang entries na pumapasok on a day-to-day basis [The factors are the continuous entry of cargo. There is no reduction, rather, entries are increasing on a day-to-day basis],” Estrella told a press conference.
So far this month, Estrella said the BOC has already collected P19.947 billion, which is 57 percent of the total P35.116 billion assessed target for this month.
“The Bureau expects to achieve a good revenue collection performance this month, similar to that of November when the Bureau was able to exceed its target revenue collection by more than P3 billion or close to P4 billion,” he said.
“Given this improvement, the Bureau of Customs is already 93.3 percent of the P409 billion assessed target for the whole year,” the BOC official added.
In the case of the Manila International Container Port, Estrella said it has already achieved a 7 percent surplus as of Tuesday.
“This enhanced revenue collection is attributed to the positive trust rating of the Bureau of Customs and the reduction of corruption, also the cooperation of stakeholders and transparency in the Bureau of Customs transaction, and full efforts of traders in helping the agency increase its revenue collection,” he said.
The BOC in November this year exceeded its target collection for the first time in almost two years.
Based on BOC data, the total amount of import duties and other taxes collected at the country’s ports last month reached P40.24 billion, 12 percent higher than its P36.45-billion goal as set by the Cabinet-level interagency Development Budget Coordination Committee, and 27 percent more than the P29.06 billion collected a year ago.
For the last seven years, the BOC has failed to hit its full-year targets. The bureau last realized its revenue goal in 2008, when actual collections exceeded the P254.5 billion target by P2.3 billion.
Customs collections account for 20 percent of government revenues.