Customs collections hit P285.3B in 8 months, slightly off target
The Bureau of Customs slightly missed its collection goal in August as revenues in eight ports fell below targets.
The latest BOC data showed that the import duties and other taxes collected by the country’s second biggest tax collection agency last month amounted P38.32 billion, nearly hitting the P38.87-billion goal and up from P33.1 billion in August last year.
The following ports exceeded their targets for the month: Batangas, P9.75 billion (against P8.71-billion target); Legaspi, P21.8 million (against P21.7-million target); Iloilo, P237.8 million (against P213.7-million target); Tacloban, P27 million (against P18.9-million target); Surigao, P3.1 million (against P1-million target); Cagayan de Oro, P1.21 billion (against P967.6-million target); Davao, P1.35 billion (against P1.16-billion target), and Clark, P118.5 million (against P112.2-million target).
Meanwhile, these major ports missed their revenue goals: San Fernando, P183.5 million (against P198.8-million goal); Port of Manila, P5.69 billion (against P6.19-billion goal); Manila International Container Port, P11.79 billion (against P11.98-billion goal); Ninoy Aquino International Airport, P3.16 billion (against P3.29-billion goal); Cebu, P1.734 billion (against P1.94-billion goal); Zamboanga, P4.8 billion (against P19.7-billion goal); Subic, P1.142 billion (against P1.36-billion goal), and Limay, P1.84 billion (against P2.52-billion goal).
BOC data showed no August collection figure from the Aparri port, compared with P11.6 million a year ago.
The tax expenditure fund, which covers government importation, reached P48 million, behind the target of P150 million.
As of end-August, the BOC’s collections totaled P285.3 billion, up from P254.6 billion last year.
The eight-month take, however, was below the P296.9-billion target for the January-to-August period.
For 2017, the BOC must collect a total of P459.6 billion in import duties and other taxes, equivalent to 3 percent of gross domestic product.
In the third and fourth quarters, the BOC’s take was programmed at P119.2 billion and P122.8 billion, respectively. —BEN O. DE VERA
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.