The Customs bureau missed its full-year 2015 collections target as oil imports decreased in both volume and value terms.
The Bureau of Customs (BOC) said total collections last year amounted to P366.9 billion, P69.6 billion or 16 percent below the full-year target of P436.5 billion.
Compared to 2014’s tally of P369.1 billion, last year’s collections were also P2.3 billion or 0.6 percent lower.
In December alone, the bureau netted P37.1 billion, 5.8 percent or P2.2 billion lower than the P39.4-billion target.
Without disclosing specific figures, the BOC said the lower 2015 collections could be traced to the lower value and volume of oil products imported into the country.
The performing ports for 2015 were identified as Zambonga, Legazpi and Iloilo, which exceeded collections targets by P175 million, P290 million, and P2.3 billion, respectively.
The poorest performers, on the other hand, were Aparri, Limay and San Fernando, which fell short by P455 million, P23 billion and P835 million, respectively.
For 2016, the bureau has been tasked to collect P498.7 billion.