Customs beats collection goal anew

MANILA, Philippines — The Bureau of Customs (BOC) has exceeded its collection target for the fourth consecutive month in April, as most ports improved their performance following the rebound in import volume.

The BOC yesterday said they collected P65.7 billion in April, surpassing its P54.9-billion monthly target by 20 percent.

The agency attributed the increase in revenues to the recovering performance of collection districts across regions, brought about by escalating domestic and global trade.

Manila International Container Port and the ports of San Fernando, Manila, Batangas, Legaspi, Iloilo, Cebu and Cagayan de Oro all surpassed their collection targets. The ports of Zamboanga, Davao, Subic, Clark, Aparri and Limay also breached their revenue goals.

In the first four months of the year, the BOC has collected P253.63 billion, exceeding by 18 percent its target of P215.01 billion for the period.

In March, it logged a record high monthly collection at P70.73 billion against a target of just P57.69 billion.

Government economists expect Customs collections to go up following the spike in prices of fuel, as the uptick in petroleum costs will also reflect an increase in taxes paid by importers.

The Bangko Sentral ng Pilipinas projects Dubai crude to average $102.23 a barrel this year due to the uncertainties posed by Russia’s invasion of Ukraine on international trade.

Further, the BOC said authorities intensified their enforcement efforts against illegal imports. Also, the agency said traders enhanced their compliance with import laws, making sure they pay the necessary duties to avoid future complications.

The BOC is the second largest revenue collector of the government only behind the Bureau of Internal Revenue. For the past two years, the agency surpassed its yearly targets by six percent in 2020 and four percent in 2021 in spite of the challenges posed by the pandemic.