BOC surpasses collection target in May

MANILA The Bureau of Customs (BOC) surpassed anew its revenue collection after posting 3.9 percent surplus equivalent to PHP1.973 billion in its collection for the month of May, exceeding the PHP50.628-billion target collection for the said period.

In a statement issued on Wednesday, the bureau noted that the figure is 32 percent up or PHP12.763-billion higher compared to last year's collection of PHP39.838-billion in the same period.

At the same time,preliminary data from the BOC Financial Service show that 16 out of the 17 ports were able to hit and exceed their collection targets last month, with an accumulated total revenue of PHP52.601 billion.

Customs Commissioner Isidro LapeAa attributed the improved revenue collection performance to the increase in the volume of imports by 3.3 percent in May.

The value of imports also grew by 17.8percent. I will say this is because of the continuing application of correct valuation and tariff classification of goods, he said, adding that another factor that contributed to the positive collection is the enhanced revenue collection performance of the district ports.

The 16 ports that met their May collections are:

-Port of Batangas (PHP14.454 billion), up by 23.3 percent or PHP2.733 billion;

-Port of Manila (PHP8.083 billion), up by 6.2 percent or PHP472 million;

-Port of Limay (PHP3.462 billion), up by 12.4 percent or PHP381 million;

-NAIA (PHP3.155 billion), up by 5.2 percent or PHP155 million;

-Port of Cebu (PHP2.395 billion), up by 5 percent or PHP114 million;

-Port of Davao (PHP1.936 billion), up by 19.2 percent or PHP311 million;

-Port of Cagayan de Oro (PHP1.866 billion), up by 30.5 percent or PHP436 million;

-Port of Subic (PHP1.853 billion), up by 1.7 percent or PHP31 million;

-Port of Iloilo (PHP323 million), up by 17.8 percent or PHP49 million;

-Port of San Fernando (PHP298 million), up by 7 percent or PHP21 million;

-Port of Clark (PHP173 million), up by 30.3 percent or PHP40 million;

-Port of Zamboanga (PHP58 million), up by 142.2 percent or PHP34 million;

-Port of Tacloban (PHP47 million), up by 102.4 percent or PHP24 million;

-Port of Legazpi (PHP25 million), up by 4 percent or PHP1 million;

-Port of Aparri (PHP16 million), up by 213.6 percent or PHP11 million;

-Port of Surigao (PHP2.2 million revenue, up by 7.7 percent or PHP200,000.

Likewise, it reported that the increase in foreign exchange and oil price, and growth in the importation of motor vehicles, crude oil, foodstuff, iron and steel, and petroleum products contributed to the May collection.

The bureau also reported that more than PHP230.18 billion revenue has been collected from January to May 2018.

Meanwhile, the Manila International Container Port failed to hit its revenue target of PHP15.611 billion, collecting only PHP14.199 billion last month. (PR)

Source: Philippine News Agency

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