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BOC Nov take exceeds goal

For the first time in two years, collection overshoots target as imports surge ahead of the holiday season
By: - Reporter / @bendeveraINQ
/ 06:17 AM December 03, 2016

Amid increased importation ahead of the holiday season, the Bureau of Customs in November exceeded its target collection for the first time in almost two years.

BOC data released Friday showed that the total amount of import duties and other taxes collected at the country’s ports last month reached P40.239 billion, 12-percent higher than its P36.45-billion goal, as earlier set by the Cabinet-level, interagency Development Budget Coordination Committee.

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Data further showed that the actual November collections were up 27 percent from P29.061 billion a year ago.

Also, BOC data showed that it was only last month that the BOC again exceeded its target since December 2014, during which the P38.105-billion collections were more than the P31.984-billion target.

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In a statement, the agency said November’s higher collections came on the back of “positive trust rating of [Customs Commissioner Nicanor] Faeldon, top cooperation of stakeholders, transparency in BOC transactions, and full efforts of traders in helping the agency increase revenue collection.”

“In our outlook assessment report, the current collection record has exhibited a better leadership performance in past five months in 2016, covering July to November,” the BOC added.

For his part, Faeldon attributed last month’s increase in collections to his “constant consultation with the country’s 11,000 importers, the general public, and social media, on some strategic cooperation to boost the government’s efforts to curb corruption and smuggling for the greater purpose of correctly collecting duties and taxes that are earmarked to fund government development programs and projects.”

“I congratulate all our port collectors for their selfless efforts in improving their revenue collections that are usually translated into improved lives and services for the 95 million Filipinos,” Faeldon said.

In the case of the Manila International Container Port (MICP), the BOC said it exceeded its P10.367-billion goal as the actual take amounted to P11.363 billion.

“The P1-billion surplus in [MICP’s] revenue collection for November can be attributed to the positive outlook on Commissioner Faeldon and the increase of volume of imports in the port brought about by the twin holidays, namely the Christmas season and the Chinese New Year holidays,” the BOC said.

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