Customs collections rise 11% in May but still short of target
Bureau of Customs. INQUIRER FILE PHOTO
MANILA, Philippines — Reforms at the Bureau of Customs (BOC) continued to pay dividends as revenues for May rose by over a tenth, despite a drop in the value of goods imported by the country.
Collections were still below the target for the month, but officials remained optimistic, noting that the continued growth in revenues was a sign of more efficient operations.
“Looking beyond the revenue target, our collection efficiency is improving as we enhance our reference valuation figures and improve enforcement of customs policies and procedures, surveillance and apprehension of smuggled goods,” BOC Commissioner John Philip Sevilla said in a statement.
The BOC said collections were up 11 percent in May 2014, reaching P28.8 billion. This was 18 percent short of the target of P35.09 billion for the month, on the back of the reduced volume of importation.
From January to May 2014, revenues were up by 20 percent year-on-year to P146.07-Billion.
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