MANILA, Philippines--Collection of import duties fell short by P52 billion in 2009 as the value of inbound cargoes plunged by about a fifth to P2.3 trillion, according to Customs Commissioner Napoleon L. Morales.
Morales said the Bureau of Customs turned in only P220 billion or 19 percent short of the target of P272 billion.
He added that the 2009 collection was also P39 billion or 15 percent lower than the P260 billion yield in 2008.
?The shortfall against the target and (year-ago) collection was consistent with the drop in the overall value of imports,? Morales said.
The customs chief said the biggest drop was observed in oil importation, which decreased by 39 percent over the oil import value in 2008.
Morales said the value of non-dutiable imports also suffered, dropping 24 percent or P363 billion from 2008 figures, reflecting the slump in manufacturing output.
Citing BOC data, he further said that positive factors observed last year were not enough to offset ?the nearly P73 billion revenue loss due to economic assumptions that did not materialize.?
He said these positive factors include a stronger peso, higher tariff rates and lower deferred payments which Morales said summed up to some P19 billion in revenue gains.
?All factors considered, there were revenues of more than P1 billion attributed to collection efficiency of the bureau,? Morales added.
He said such efficiency was the result of internal revenue measures rather than improved trade volume or certain levels of economic growth.
Economic managers expected the domestic economy to grow by between 0.8 percent and 1.8 percent in 2009, but the actual figure was 0.9 percent.
Morales said the BOC, which celebrated its 108th founding anniversary on Monday, was expected to further improve collection efficiency through ongoing reform efforts.