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Customs posts PHP1.3-B collection surplus in May

MANILA, June 14 -- The Bureau of Customs (BOC) recorded a surplus of PHP1.3 billion in its collection for May.
According to the BOC Financial Service, the earnings last month exceeded by 3.4 percent the target revenue of PHP38.28 billion when it collected a total of PHP39.6 billion.

It added that the May collection was 23.5 percent higher, or PHP7.52 billion more than the figures reported during the same period last year.

In a statement, the BOC attributed the improved collection performance to higher oil prices in 2017, and increase in volume and value of imports by 19.7 percent and 28.3 percent respectively.

Likewise, foreign exchange rate has increased from PHP47.05 in 2016 to PHP49.9 in 2017, thereby resulting in higher revenue yields.

The BOC also cited last month’s good revenue performance to improved collections by the bureau’s 11 district ports:

The Port of San Fernando collected PHP248 million, up by 26.8 percent from the Php195.8 million target revenue

The Port of Manila collected PHP6.135 billion, up by 0.6 percent from the PHP6.101 billion target revenue.

The Manila International Container Port collected PHP12.08 billion, up by 2.4 percent from the PHP11.80 billion target revenue.

The bureau's office at the Ninoy Aquino International Airport collected PHP3.35 billion, up by 3.2 percent from the PHP3.24 billion target revenue.

The Port of Batangas collected PHP9.05 billion, up by 5.5 percent from the PHP8.58 billion target

The Port of Tacloban collected PHP22.8 million, up by 22.5 percent from the PHP18.6 million target.

The Port of Cagayan de Oro collected Php1.46 billion, up by 52.9 percent from the PHP953.2 million target.

The Port of Zamboanga collected PHP22.3 million, up by 14.7 percent from the PHP19.4 million target.

The Port of Davao collected PHP1.572 billion, up by 37.4 percent from the PHP1.143 billion target.

The Port of Subic collected PHP1.370 billion, up by 2.7 percent from the PHP1.334 billion target.

The Port of Clark collected PHP128.8 million, up by 16.5 percent from the PHP110.6 million target.

The report added that the ports of Cebu and Limay, which posted PHP1.83 billion and PHP2.28 billion, respectively are also expected to meet their collection targets.

For his part, Customs Commissioner Nicanor Faeldon is confident that the growth in government revenue will continue up to the end of the year. (Ferdinand G. Patinio/PNA)

Customs posts PHP1.3-B collection surplus in May Customs posts PHP1.3-B collection surplus in May Reviewed by AsianPolicy.Press on 2:33:00 AM Rating: 5

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