Customs exceeds April collection target by 3.3%

MANILA The Bureau of Customs (BOC) on Friday reported that it exceeded the April collection target by 3.3 percent or a surplus of PHP1.7 billion.

Based on the preliminary report, the BOC�Financial Service, last month's collection exceeded its target of PHP51.604 billion when they collected some PHP53.33 billion.

In a statement, Commissioner Rey Leonardo Guerrero attributed the surplus to initiatives to plug revenue leakages in its system, coupled with its enhanced revenue collection efforts.

The Bureau was expected to collect PHP51.604 billion in April, but because of our stringent monitoring and continuing efforts to enhance our revenue collection capabilities, we were able to collect PHP53.33 billion which is higher than the target revenue, he said.

The BOC chief added that the collection in last month is higher by 14 percent as compared to the collection during the same period last year.

In April 2018, we only collected PHP46.794 billion, but this year we exceeded our collection performance and even generated more than PHP1.726 billion surplus, he said.

Based on the preliminary report, 12 of the 17 collection districts were able to hit their respective targets the Manila International Container Port (MICP), Port of Limay, Ninoy Aquino International Airport (NAIA), Port of Cagayan de Oro, Port of Subic, Port of Cebu, Port of Davao, Port of San Fernando La Union, Port of Iloilo, Port of Tacloban, Port of Zamboanga and Port of Legaspi.

Guerrero noted that the agency's improved revenue collection performance is also the result of their intensified control measures against undervaluation, misdeclaration, and other forms of technical smuggling.

I have given all the district collectors a stern order to closely monitor all the transactions in their respective ports to ensure that the correct duties and taxes are being paid and that customs laws, rules and regulations are being followed, he added. (PNA)

Source: Philippines News Agency

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Customs exceeds April collection target by 3.3%

MANILA The Bureau of Customs (BOC) on Friday reported that it exceeded the April collection target by 3.3 percent or a surplus of PHP1.7 billion.

Based on the preliminary report, the BOC�Financial Service, last month's collection exceeded its target of PHP51.604 billion when they collected some PHP53.33 billion.

In a statement, Commissioner Rey Leonardo Guerrero attributed the surplus to initiatives to plug revenue leakages in its system, coupled with its enhanced revenue collection efforts.

The Bureau was expected to collect PHP51.604 billion in April, but because of our stringent monitoring and continuing efforts to enhance our revenue collection capabilities, we were able to collect PHP53.33 billion which is higher than the target revenue, he said.

The BOC chief added that the collection in last month is higher by 14 percent as compared to the collection during the same period last year.

In April 2018, we only collected PHP46.794 billion, but this year we exceeded our collection performance and even generated more than PHP1.726 billion surplus, he said.

Based on the preliminary report, 12 of the 17 collection districts were able to hit their respective targets the Manila International Container Port (MICP), Port of Limay, Ninoy Aquino International Airport (NAIA), Port of Cagayan de Oro, Port of Subic, Port of Cebu, Port of Davao, Port of San Fernando La Union, Port of Iloilo, Port of Tacloban, Port of Zamboanga and Port of Legaspi.

Guerrero noted that the agency's improved revenue collection performance is also the result of their intensified control measures against undervaluation, misdeclaration, and other forms of technical smuggling.

I have given all the district collectors a stern order to closely monitor all the transactions in their respective ports to ensure that the correct duties and taxes are being paid and that customs laws, rules and regulations are being followed, he added. (PNA)

Source: Philippines News Agency

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