Home » Customs & Trade » BOC collection up 17% in June

THE Bureau of Customs (BOC) posted another collection surplus in June, anchored on strong cash collections and higher tax expenditure fund (TEF) from government imports.

The BOC collected P23.72 billion in June, up 17% from P20.28 billion posted in the same month last year. The latest figure is also 4% higher than the target or about P860 million more.

The agency reported a surplus of P585 million in cash collections and P275 million in TEF for June.

For the first half of the year, the BOC took in P131.19 billion, 5% more than the P124.05-billion target or a surplus of P7.14 billion.

The inter-agency Development Budget Coordination Committee said it will increase the BOC’s 2010 collection goal of P275.68 billion by another P5 billion, considering more promising economic growth in the last few months.

BOC’s main collection districts hit their target for the first half, except for the Manila International Container Port (MICP) and the Port of Limay.

From January to June 16, MICP collections fell short by P432 million and Limay’s by P1.1 billion.

MICP’s target for the first half is P28.06 billion but it only took in P27.62 billion.

Limay has a collection goal of P16.1 billion against its actual take of P15.31 billion.

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