BOC revenues fall short of target in May
MANILA, Philippines – The Bureau of Customs (BOC) missed its revenue collection target in May by 2.1 percent, citing a decline in import volumes and the suspension of excise taxes on kerosene and liquefied petroleum gas (LPG).
In a statement, the BOC said it collected P80.7 billion in revenues last month. This marked the first time the agency fell short of its monthly target this year.
READ: LPG, kerosene excise tax relief gnaws on customs collections
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Despite the shortfall, May collections were still 6.62 percent higher than the P75.7 billion recorded in the same month last year.
From January to May, total revenues reached P406.4 billion, exceeding the agency’s target by 2.3 percent, or P9.3 billion. /pai INQ
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