BOC exceeds November collection target

The Bureau of Customs (BOC) said revenue collection for November exceeded its target by 1.5 percent.

In a briefing on Wednesday, BOC Commissioner Bienvenido Rubio said that based on preliminary data, collection during the month amounted to PHP75.34 billion, higher than its revenue collection target of PHP74.25 billion.

BOC’s year-to-date collection, which amounted to PHP813.65 billion, also surpassed the PHP795.66 billion target by 2.2 percent.

Compared to the previous year, a 3.09-percent increase was seen from the revenue collection of PHP789.25 billion.

Rubio attributed the increase to more efficient tax collection.

“If we’re talking about volume, it’s not increasing. (The increase was) more on efficiency of the tax collection. Now, we are really doing great in assessing the goods that are coming in,” he said.

“Dati, there are certain commodities na dumadating na probably hindi natin nakikita talaga yung specifics niya. Ngayon based on inspections, examinations, nakikita na namin yung actual na laman (In the past, certain commodities arrived and we probably did not see the specifics. Now, based on inspections, examinations, we can see the actual content),” Rubio added.

He said the BOC is on track to meet its PHP874.2 billion collection target for this year.

“There will be a surplus. What I can promise is I’ll meet the target and give them a surplus,” he said. (PNA)