The Bureau of Customs (BoC) has exceeded by 12 percent its collection target last month, with a total of PHP40.239 billion collected at the end of November 2016, surpassing the PHP36.450 billion revenue target for the month set by the Development Budget Coordination Committee (DBCC).
Last month’s collection is 27% higher than the PHP29.061 billion revenue posted for the same month in 2015.
The bureau’s Financial Service (FS) has attributed the enhanced revenue collection to the positive trust rating of Commissioner Nicanor Faeldon, top cooperation of stakeholders, transparency in BoC transactions, and full efforts of traders in helping the agency to increase revenue collection.
“In our outlook assessment report, the current collection record has exhibited a better leadership performance in the past five months in 2016, covering July to November,” it said in a statement.
The FS added that out of the 17 BoC ports, the Manila International Container Port (MICP) has posted a PHP1 billion surplus from its PHP10.367.14 billion revenue target for November 2016, with its top collection record of PHP11.362.52 billion.
According to Lawyer Danilo G. Ballena, Jr., chief of staff of current MICP Collector Vincent Philip Maronilla, the excess in the revenue collection for November 2016 can be attributed to the positive outlook of the BoC chief and the increase of volume of imports in the port brought about by the twin holidays, namely, the Christmas season and the Chinese New Year holidays.
“We are targeting to improve more on our revenue collection performance to support Commissioner Faeldon’s revenue collection efforts from today towards the future,” he said.
For his part, the BoC chief cited the constant consultation with the country’s 11,000 importers, the general public, and social media, on some strategic cooperation to boost government’s efforts to curb corruption and smuggling for the greater purpose of correctly collecting duties and taxes that are earmarked to fund government development programs and projects.(PNA)
