Wednesday, October 20, 2021
HomeCustoms & TradeBOC-Legazpi surpass 2018 revenue collection target 3 months early

BOC-Legazpi surpass 2018 revenue collection target 3 months early

The Bureau of Customs (BOC)-Port of Legazpi has exceeded its annual revenue collection target for fiscal year 2018, the second collection district after the Port of Tacloban to hit its annual target before the year-end.

Port of Legazpi district collector Michael Vargas, in a report, said port collection from January to September reached P294.108 million, exceeding the port’s P287-million target for this year by 2.6%, or a revenue surplus of P 7.567 million.

The nine-month collection this year is also 12.3% higher than the P261.785 million in total revenue collected in 2017.

“The port’s improved collection performance is attributed to the importers of Legazpi that have consistently helped the Customs achieve and surpass its revenue collection target,” Vargas said in a statement.

BOC data showed that a total of P126.651 million worth of duties and taxes were collected from a cement company in Legazpi, the sole regular importer of the port. This figure already accounts for 43% of the January to September 2018 collection.

Moreover, P83.901 million in duties and taxes were paid by one of the rice importers under the Minimum Access Volume (MAV) program in Legazpi.

Other top imported commodities that contributed to the port’s improved revenue collection performance included palm oil and Portland cement.

Vargas attributed the feat to the leadership of all collectors that came before him and to the men and women of Port of Legazpi.

“With the continuing cooperation and commitment of all employees to find ways and means to enhance the port’s revenue collection, the revenue surplus is expected to increase in the days ahead,” he added.

Aside from Port of Legazpi, Port of Tacloban as of June 11 has collected its 2018 revenue target of P267 million, with a surplus of P95.99 million.

Customs Commissioner Isidro Lapeña is optimistic that BOC will achieve its 2018 revenue collection target of P598 billion. From January to September 2018, BOC has collected P435.964 billion, 1.5% higher versus the period’s collection target of P429.564 billion.


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