THE Bureau of Customs said it exceeded its collection target in November and posted double-digit growth from a year-earlier due to increased of imports ahead of the holiday season.
In a statement on Friday, the bureau said it netted P40.23 billion last month, surpassing the P36.45 billion goal by 12 percent. The collection in November was 27 percent higher than the P29.06 billion collected a year earlier.
The bureau’s Financial Service attributed the enhanced revenue collection to the positive trust rating of Customs Commissioner Nicanor Faeldon, the top cooperation of stakeholders, transparency in BOC transactions, and the effort of traders in helping the agency increase its revenue collection.
“In our outlook assessment report, the current collection record has exhibited a better leadership performance in the past five months in 2016, covering July to November,” it said.
The BOC’s Financial Service cited that out of the 17 BOC ports in the country, the Manila International Container Port (MICP) posted a P1 billion surplus from its P10.37 billion revenue target for November 2016 with its top collection record of P11.36 billion.
The MICP said that the P1-billion surplus in its revenue collection for November can be attributed to the increase in the volume of imports ahead of the Christmas season and the Chinese New Year holidays next year.
Faeldon also attributed the improved collection performance to the agency’s consultations with the country’s 11,000 importers, the general public, and social media, on strategic cooperation to boost government’s efforts to curb corruption and smuggling.