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Customs collection increases 7% to P288b

The Bureau of Customs said import tariff collection increased 7.4 percent year-on-year in the first nine months, but still fell below the target for the period.

Customs said in a statement collection in January to September reached P288.1 billion, up from P268.2 billion in the same period a year ago. 

The nine-month collection, however, was 30.5 percent behind the revised target of P409 billion for 2016.

The inter-agency Development Budget and Coordination Committee earlier reduced the 2016 target collection by 18 percent from P498.64 billion to P409 billion.

Data from the bureau’s financial service showed that in September alone, the agency collected P33.951 billion, or almost P1 billion higher than P33.002 billion in August.

The September collection was also 4 percent higher than P32.651 billion a year ago.

“The monthly revenue being collected by the bureau has been increasing since the administration of commissioner Nicanor Faeldon posted a P30.278-billion revenue collection for July,” Customs said in the statement.

September collection, however, was still 5.1 percent below the P35.790-billion target revenue for the month. Customs said “it is expected to increase upon the finalization of the report.”

The agency said of the 17 collection districts, six of them already exceeded their collection targets for the month.

Port of Clark collected P225.2 million; Port of Iloilo, P211.8 million; Port of Zamboanga, P19.5 million; Port of Cebu, P1.759 billion; Port of Davao, P1.052 billion; and Port of Batangas, P8.529 billion.

Meanwhile, the Manila International Container Terminal posted a collection of P10.583 billion based on initial reports, and nearing its P10.601 billion target.

Faeldon welcomed this improvement in the revenue collection. “It depends on our ability to address other issues that we can improve the revenue collection,” Faeldon said.

Faeldon said the eradication of corruption―which his leadership was currently working on―would help the bureau yield higher revenue collection.

Topics: Bureau of Customs , import tariff collection
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