Issue of May 5, 2019
     
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BOC exceeds April collection aim by 3%
by PNA release

The Bureau of Customs last week reported that it exceeded the April collection target by 3.3 percent or a surplus of P1.7 billion.

Based on the preliminary report of the BOC Financial Service, last month’s collection exceeded its target of P51.604B when they collected some P53.33B.

In a statement, Commissioner Rey Leonardo Guerrero attributed the surplus to initiatives to plug revenue leakages in its system, coupled with its enhanced revenue collection efforts.

“The Bureau was expected to collect P51.604B in April, but because of our stringent monitoring and continuing efforts to enhance our revenue collection capabilities, we were able to collect P53.33B, which is higher than the target revenue,” he said.

The BOC chief added that the collection in last month is higher by 14 percent as compared to the collection during the same period last year.

“In April 2018, we only collected P46.794B, but this year we exceeded our collection performance and even generated more than P1.726B surplus,” he said.

Based on the preliminary report, 12 of the 17 collection districts were able to hit their respective targets. These are the Manila International Container Port, Port of Limay, Ninoy Aquino International Airport, Port of Cagayan de Oro, Port of Subic, Port of Cebu, Port of Davao, Port of San Fernando La Union, Port of Ilo-ilo, Port of Tacloban, Port of Zamboanga, and Port of Legaspi.

Guerrero noted that the agency’s improved revenue collection performance is also the result of their intensified control measures against undervaluation, misdeclaration, and other forms of technical smuggling.

“I have given all the district collectors a stern order to closely monitor all the transactions in their respective ports to ensure that the correct duties and taxes are being paid and that customs laws, rules, and regulations are being followed,” he added.

 
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BUSINESS
NEDA says Cordillera should strengthen its agri industry

Firms bag $42 M export sales

AANZFTA eyes self-certification to facilitate trade of products

GDH sector launches Ma’I brand to boost int’l competitiveness

PH foods to join New York’s biggest specialty food event

Gov’t urged to mull another fare hike

Recipients of free-range hens in Bontoc undergo training

Gov’t jobs top vacancies on Labor Day job fair

Cupping competition features budding Ifugao coffee industry

Hojap MPC grows to become leading maker in Asipuo

Sen Lacson pushes for people’s participation in budgeting

New laws greet Filipino workforce on Labor Day

Public warned vs overcharging airport cabs using DOT logo


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