Kudos to the Bureau of Customs for surpassing for the fifth straight month its collection goal. I hope this is not a ningas cogon. And I also hope that the change of administration has nothing to do with its good performance, or the kind that seeks retention of leaders. Congratulations just the same.
The Bureau of Customs exceeded by P11.767 billion its target collection for May or by 21 percent due to improved valuation and collection efforts as the economy continued to rebound.
This is the fifth month in a row this year that the bureau overshot its collection goal, the first time was in March when it posted a surplus of P13.037 billion, higher by 22.6 percent than its target of P57.69 billion, according to a Business World report.
In a statement, the bureau said it collected P68.245 billion in May, surpassing the P56.478-billion target by 21 percent.
May marked the fifth month in a row that Customs has exceeded its monthly collection goals.
Last month’s Customs collection was 38 percent higher than the same month in 2021.
15 of 17 districts exceeded goals
Citing a preliminary report from the BoC-Finance Service, the bureau said 15 of the 17 collection districts surpassed their monthly target.
These were the ports of San Fernando, Manila, Batangas, Legazpi, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri and Limay, as well as the Manila International Container Port (MICP).
For the first five months, the BoC collected P322.472 billion, nearly half or 47.5 percent of the P679.226 billion full-year target.
“Among the factors that contributed to the positive performance of the BoC since January this year include the improved valuation, intensified collection efforts, measures preventing revenue leakage and the recovering economy of the country,” the bureau said.
Border security measures
The BoC said it continued to implement border security measures against “undervaluation, misdeclaration and other forms of technical smuggling and collect lawful revenues.”
In 2021, Customs collected P645.77 billion, 4.7 percent higher than its full-year target of P616.75 billion. This was also 20 percent higher than P537.69 billion in revenues generated amid the pandemic in 2020.
The BOC’s revenue for the month is also higher by 40.37 percent compared with its collection in the same month a year ago at P48.617 billion.
Tags: #BoC, #surpassedgoals, #collections, #improvedeconomy, #money