REVENUE collected by the Bureau of Customs (BoC) in April rose over 50% year on year after the imposition of higher excise tax rates in 2018, with the result also reflecting the peso’s depreciation.
The BoC said in a statement yesterday that it collected P47.39 billion in April, up 50.4%. The April outcome beat the BoC’s P46.46-billion target.
The bureau met its target for a third month, with targets exceeded by P3 billion.
Commissioner Isidro S. Lapeña said collections rose due to the “improved and correct valuation and tariff classification being implemented on the ground,” as well as the “higher excise tax this month due to the effective implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law.”
The law imposed higher excise taxes on fuel, automobiles, minerals, coal, and a new tax on sugar-sweetened beverages, among others.
The BoC added that the “volume and value of imports are comparably higher than the same period last year.”
“The increase in oil prices and the peso-dollar exchange rate also contributed to the increased April revenue of the BoC,” Mr. Lapeña said.
Fourteen Customs collection districts exceeded their targets while three did not.
The three are the Manila International Container Port, Ninoy Aquino International Airport, and the Port of Legazpi.
“I always tell the bureau officials and employees, we can hit the target every month. We only just have to apply the correct valuation and collect what is due the government. I think we can continue this trend until December,” he said.
The BoC’s 2018 collection target is P637.1 billion, up 39.05% from actual collections in 2017. — Elijah Joseph C. Tubayan

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