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THE Bureau of Customs attained its second quarter
collection goal from higher tax expenditure funds from rice
importations last month.
Customs Deputy Commissioner
Reynaldo Umali said preliminary data showed April to May collections
reached P68.18 billion, or a 31-percent improvement compared with
last year’s P52.02 billion.
The latest figure is also on top
of the second quarter goal of P64.7 billion. In June alone, Umali
said customs collection grew 45 percent to P24.98 billion from same
period last year of P17.3 billion. Target for last month, meanwhile,
is at P21.47 billion.
Umali said the improved revenue
collection last month is from the almost four-folds growth in tax
expenditure funds, which is part of the annual budget.
He said it amounted to P7.29
billion last month, or higher than the target of P1.57 billion.
With June data, January to June
collection of customs reached P117.08 billion, surpassing the target
for the period of P116.41 billion. In the first three months of the
year, customs generated P48.9 billion, an increase of 21.5-percent
from last year, but short of targaet which was P51.752 billion.
The Department of Finance earlier
said the Bureau of Internal Revenue (BIR) and of Customs should
collect more than what they have promised to the inter-agency body,
which sets the country’s macroeconomic goals and assumptions.
Government estimates showed, the
BIR can generate additional P21.25 billion to P866.15 billion from
the previous P844.9 billion, while customs could end the year with
P217.8 billion collection, P21.8 billion more than the original P254
billion.
Finance Undersecretary Gil
Beltran said the targets set for the two bureaus will remain
unchanged despite changes in the macroeconomic figures.
--Chino S. Leyco
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