Home » Customs & Trade » PH customs, internal revenue agencies post collection surplus in Subic

The Philippine Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR) reported a surplus in collection at the Subic Bay Freeport Zone in September.

The Subic Bay Metropolitan Authority said the two agencies posted a combined surplus of P95.34 million in September after total collections reached P760.14 million.

From January to September, BOC took in P4.81 billion and BIR P966.49 million from the freeport for a total of P5.78 billion.

BOC collections accounted for P677.18 million of the September total and BIR’s collection, P82.96 million. The combined total is 14.34% more than the September target of P664.8 million.

BOC-Subic reported a 16.19% increase in its September target or a surplus of P94.35 million. The latest collection is, however, lower by 1.56% or P10.73 million compared to the P687.91-million take in the same month last year.

August saw the biggest BOC-Subic surplus for the year when its collection was 26.05% more than its P542.46-million target, and the biggest difference of 87.81% or P319.7 million year-on-year.

BOC-Subic recorded its biggest deficit for the year in July at P604.13 million, 46.75% less than the target.

BoC-Port of Subic topped the nationwide collection performance for two months in a row by posting the biggest surplus of P141.33 million in August and P94.35 million in September.

Meantime, BIR-Subic’s September collection was among the agency’s lowest monthly revenue record this year, the highest being in April amounting to P139.43 million. The BIR recorded its biggest surplus in March when it exceeded its P111.52-million collection goal by 22.38%.

Image courtesy of ddpavumba / FreeDigitalPhotos.net

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