Home » Customs & Trade » Key Customs districts fall short of revenue targets

FOUR key collection districts of the Bureau of Customs (BOC) continued to perform below revenue expectations for September.

The Port of Manila (POM), Manila International Container Port (MICP), Batangas, Limay and the Ninoy Aquino International Airport (NAIA) — also known as the billionaire ports for their ability to generate monthly revenues of at least a billion pesos — dragged total BOC collections.

Preliminary BOC data revealed September revenues dropped 24% to P20.12 billion from the goal of P26.56 billion. The decline has been attributed to the continuing peso appreciation and application of zero tariff on oil imports.

From January to September, BOC cash collections amounted to P170.3 billion, almost P2 billion shy of its target of P172.2 billion. The figure is, however, higher than the same period last year’s actual collection of P144.2 billion.

Only four smaller ports hit their September revenue target — Clark, Tacloban, Surigao and Legaspi which posted surpluses of P15 million, P4.1 million, P2.9 million, and P2.5 million, respectively.

Biggest loser

The oil ports of Limay and Batangas accounted for 70% of the total collection shortfall of the BOC in September.

The Port of Limay registered the biggest deficit at P1.51 billion, collecting P1.38 billion against its target of P2.85 billion.

Batangas Port fell short of its September goal by P1.17 billion.

POM posted a P208-million deficit after collecting P4.91 billion versus its target of P5.12 billion, the second straight month it failed to hit its goal. Still, the port managed to produce a surplus of P4.5 billion from January to September.

The country’s biggest port, MICP booked a P420-million deficit, taking in only P5.59 billion against P6.01 billion. Its total shortfall for the nine-month period is P2.01 billion.

No comments yet... Be the first to leave a reply!

Leave a Reply

Your email address will not be published. Required fields are marked *

3 + eighteen =

Please support the site
By clicking any of these buttons you help our site to get better
Social PopUP by SumoMe
Copy Protected by Chetan's WP-Copyprotect.