Home » Customs & Trade, Uncategorized » PH Customs may miss collection goal in H2

COLLECTIONS could continue to miss targets in the second semester after falling short by more than P18 billion in the first half, an official of the Philippine Bureau of Customs report has admitted.

Customs Deputy Commissioner Peter Manzano said there was a chance the target set for the second half of the year might be unrealistic as there no solid indicators of a recovery in imports.

The bureau collected P145.13 billion compared with its internal target of P163.85 billion for the period.

For this year, the government has tasked BOC to collect P176.15 billion in the second half and P340 billion for 2013.

“Our collections largely depend on imports. If imports continue to be weak, it will be difficult to meet the targets,” Manzano said.

Last week, the National Statistics Office released data showing the country’s imports in the first five months of the year slipped 3.6% to $24.76 billion, from $25.68 billion year-on-year.

TheNSOattributed the drop to weak global demand, prompting exporters to import less raw materials and capital goods.

Manzano’s statement differed from those who believed the BOC was failing to meet its collection goals because of deeply-rooted corruption in the agency that has left the problem of smuggling hardly addressed.

President Aquino criticized the BOC in his last State-of-the-Nation Address for unabated corruption and smuggling and said he wanted reforms instituted in the agency before his term ends in 2016.

Manzano said a Bureau of Internal Revenue memorandum related to excise taxes on imported alcohol could also hamper the BOC’s ability to meet its second-half collection target.

The memorandum states that excise taxes on imported alcoholic beverages should be paid once the goods are delivered to the warehouses of importers. Previously, excise taxes were collected at the ports or upon arrival of the goods. This means theBIRis now the agency in charge of collecting excise taxes on alcohol, Manzano said.

Image courtesy of jscreationzs / FreeDigitalPhotos.net.

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