BoC beats Nov. collection target by over 13%
THE Bureau of Customs (BoC) collected P58.79 billion in revenue in November, exceeding its target by 13.39% as import volumes increased.
The BoC in a statement Wednesday said that 12 out of 17 collection districts exceeded their targets for the month.
In the year to date, the BoC collected P584.16 billion, equivalent to 94.7% of the 2021 collection target of P616.75 billion.
“The observed recovery in collection performance is attributed to several factors, including the improvement in volume of imports,” the BoC said.
Other factors contributing to growth include improved valuations, the gradual improvement of the economy as borders and businesses reopen, and government efforts to ease the movement of goods, the BoC added.
Collection districts that exceeded their targets were the Ports of San Fernando, Manila International Container Port, Ninoy Aquino International Airport, Batangas, Legaspi, Iloilo, Tacloban, Zamboanga, Davao, Subic, Clark, and Limay.
The BoC has been consistently beating its monthly collection targets since January.
Customs Commissioner Rey Leonardo B. Guerrero in a House Public Accounts Committee hearing last week said he is confident the bureau will hit its full-year collection goal set by the Development Budget Coordination Committee.
BoC collections declined by 14% to P537 billion last year due to the slowdown in international trade. — Jenina P. Ibañez