The Philippine Bureau of Customs (BOC)’s revenue collection in January rose 21% year-on-year to P29.8 billion from P24.54 billion a year earlier, but was still short of the P31.307-billion target.
Cash collections improved for the third month in a row, trimming the revenue target shortfall.
“Although there is still much room for improvement, the numbers prove that the President’s customs reform program has considerably enhanced the growth trajectory of our collections,” Customs Commissioner John Phillip Sevilla said in a statement.
“As we continue to plug loopholes, implement measures that boost compliance of our importers and stakeholders, and go after smugglers, we aim to sustain the double-digit growth momentum in revenues,” he added.
Sevilla noted that the growth momentum in collections was hindered by the implementation of the expanded truck ban in Manila.
“Preliminary data indicates a softening of our average daily collection in February. Nevertheless, we will continue to monitor and extend assistance to the transacting public to ensure that the revenue momentum we have started continues in the coming months,” Sevilla pointed out.
For February and March, the BOC is tasked to collect P30.184 billion and P33.286 billion, respectively.
Out of the 17 ports, 10 exceeded their target collections for the month of January. These are San Fernando (P135.1 million), Batangas (P6.278 billion), Legaspi (P25.6 million), Subic (P1.174 billion), Limay (P3.420 billion), Iloilo (P156.2 million), Cebu (P1.067 billion), Cagayan de Oro (P661 million), Zamboanga (P6.2 million), and Davao (P703.4 million).
The Manila International Container Port produced the biggest collection of P8.160 billion, short of the P9.244 billion target, while the Port of Manila reported P5.783 billion versus the P6.821 billion target.
The Development Budget Coordination Committee has set a target collection of P408.1 billion for BOC in 2014, representing about 22% of total revenues of the national government.