BOC-Davao nets P1 billion in August

DAVAO CITY (MindaNews / 21 Sep) – The revenue collections of the Bureau of Customs (BOC)-Davao reached P1.017 billion last month, which is higher by 8.6 percent than its target of P936.30 million.

The agency’s collection performance last month surpassed the collected revenues last year at only P758 million, falling short by 14.37 percent of its P885.23 million target.

In an interview at his office Tuesday, Christlamb Reae C. Vicente, customs and tariff specialist at the BOC-Davao, said they were happy to surpass the target for the last month. This he attributed to the increase on importation of oil and steel products, among others.

BOC-Davao collected some P1.079 billion in July 2016, higher by 9.5 percent than its target of P985.40 million.

He said he is optimistic that the agency will meet the target for the second quarter at about P5.926 billion, given the daily average collections between P25 million to P27 million.

In a September 1 memorandum, Customs Commissioner Nicanor E. Faeldon said the Development Budget and Coordination Committee (DBCC) has lowered the BOC’s collection targets to P409 billion from P498.67 billion, with P402.5 billion as cash component, citing the “continuous decline in oil prices and level of imports in the recent months affecting the BOC’s collection performance.”

The target collection for the entire bureau for the second half of 2016 is at P218.4 billion.

“The recomputed cash collection target is 12.6 percent higher than the 2015 BOC actual cash collection of P357.4 billion,” he said. (Antonio L. Colina IV / MindaNews)