MANILA, Philippines — The Bureau of Customs has exceeded by about P12 billion its collection target for May, showing signs that the agency may hit its annual goal with nearly half of the amount collected.
The BoC yesterday said it raised P68.25 billion in revenues in May, exceeding by P11.77 billion its monthly target of P56.48 billion.
The BoC, as of May, has generated P322.47 billion or more than 47 percent of its collection goal of P679.23 billion for the year.
For May, the Customs bureau said that 15 of the 17 collection districts managed to reach, if not surpass, their respective targets. The Port of San Fernando collected P935.32 million against its objective of P496.38 million, while the Port of Manila raked in P7.27 billion against its target of P5.72 billion.
The Manila International Container Port earned P15.43 billion against its goal of P14.54 billion, as the Port of Batangas piled up P15.32 billion against P12.26 billion. The Ports of Legazpi, Limay, and Zamboanga registered P54.3 million, P8.98 billion and P998.07 million against their targets of P27.44 million, P7.08 billion and P634.86 million, respectively.
The Port of Tacloban generated P604.73 million against an objective of P539.63 million; Port of Iloilo, P581.57 million against P264.06 million; Port of Davao, P3.59 billion against P3.35 billion; and the Port of Subic, P3.85 billion against P3.41 billion.
Based on records, the Ports of Clark, Cagayan de Oro, Cebu, and Aparri raised P275.92 million, P3.29 billion, P3.61 billion, and P160.69 million against their respective goals of P218.83 million, P3.2 billion, P2.95 billion, and P35.21 million.
On the other hand, the Ports of Surigao and NAIA failed to hit their targets of P9.54 million and P3.42 billion, with collections of just P5.96 million and P3.07 billion, respectively.
Customs Commissioner Rey Leonardo Guerrero said the agency exceeded its May target after most of the ports improved collection efforts. He said import volumes, including goods valuation, have gone up since January, proving that international trade may well be on its way to recovery.
As the global economy bounces back, Guerrero said the BoC would tighten its border security to guard against smugglers trying to take advantage of the loosened restrictions. He said measures are being put in place to prevent leakages.
The BoC, as the second largest revenue agency, is tasked with delivering the resources that the government requires to finance its programs and projects.
For the year, the government hopes to raise P3.3 trillion, with the target of slashing the budget deficit to 7.6 percent of the economy.