• Customs revenue up 11% in Aug


    BOC[1]But P4.4B short of target

    The Bureau of Customs (BOC) still missed its collection target for August despite posting an 11 percent year-on-year increase in revenue for the month.

    In a statement on Friday, the BOC said its collections reached P29.06 billion in August, higher by P2.98 billion than the P26.08 billion collected a year earlier.

    “Despite August traditionally being called the ‘ghost month’ due to a slack in business activity, particularly from many Asian economies, as well as congestion at ports in Manila, the BOC posted an increase in revenue collections,” the bureau said.

    However, compared with the P33.46 billion target for the month, the bureau fell short by 13 percent or P4.4 billion.

    Cumulative collections from January to August were up 17 percent year-on-year at P232.92 billion from P199.17 billion. However, measured against the full-year target of P408 billion, the eight-month collections appear to lag by about 9 percent.

    Batangas port outperforms
    A breakdown of the overall figures shows the BOC’s actual cash collection continued to post double-digit growth, reaching 13.4 percent in August alone and 17.4 percent for the first eight months of 2014.

    Revenue collections at the Port of Batangas during the month reached P7.2 billion, up 42 percent year-on-year.

    The bureau said the increase could be traced to importers’ choice to divert their shipments to the Port of Batangas to avoid congestion in the Manila ports.

    “The Batangas port also breached its P6.1 billion target for the month by 18 percent,” it added.

    Other ports that showed significant gains versus their respective monthly targets are the ports of Iloilo (P241.3 million), Subic (P71.8 million), Aparri (P30.4 million) and Davao (P725.1 million), the BOC said.

    Sept target
    For September, the BOC has set a revenue collection target of P34.56 billion, as projected by the inter-agency Development Budget Coordination Committee.
    For full-year 2014, the bureau is tasked to collect about P408 billion in revenues for the government, or 22 percent of the government’s overall revenue target from all sources for this year.


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