BOC Exceeds Revenue Collection Target for February Posting a Surplus of P1.965 Billion

The Bureau of Customs which was once dubbed as one of the most corrupt government agencies made significant improvements under the leadership of Pres. Rody Duterte as they reported that the agency exceeded its revenue collection target for the month of February posting a surplus of P1.965 Billion as the majority of ports exceeded their revenue goal.

Former PDEA Chief and now Customs Commissioner Isidro Lapeña disclosed that based on the initial collection report from the agency’s Financial Service, BOC collected a total of P43.674 billion revenue against the P41.709 billion collection target. This is P12.82 billion or 41.5 percent higher than the P30.854 billion collection on the same period last year.

The BOC reported that the increase in February 2018 collection is attributed to the improved collection of the majority of the BOC ports, notably by the revenues generated by the Manila International Container Port (MICP), Port of Manila (POM) and Batangas.

Based upon the records of the BOC, the Manila International Port (MICP) collected P13.438 billion revenue, up by 4.49 percent against the P12.861 billion target collection. The port was able to hit a surplus of P577 million.

The Port Of Manila (FOM) posted P6.529 billion in revenue exceeding its target of P6.27 billion by 4.1 percent and with the surplus reaching P259 million. Meanwhile, the Port of Batangas (POM), collected P9.982 billion revenue with P326 million surplus or 3.4 percent higher than the P9.656 billion revenue goal.

Aside from the above-mentioned port, there are eleven other ports that contributed to the notable increase in BOC collection, with details as follows:

Port of Limay collected P2.544 billion, or 0.2 percent higher than the P2.538 billion revenue goal.
Port of Cebu collected P2.084 billion, or 10.9 percent higher than the P1.879 billion revenue goal;
Port of Davao collected P2.067 billion, or 54.4 percent higher than the P1.339 billion revenue goal;
Port of Cagayan de Oro collected P1.668 billion, or 41.6 percent higher than the P1.178 billion revenue goal;
Port of Subic collected P1.509 billion, or 0.5 percent higher than the P1.501 billion revenue goal;
Port of Iloilo, collected P373 million, or 65 percent higher than the P226 million revenue goal;
Port of San Fernando collected P293 million, or 28 percent higher than the P228 million revenue goal;
Port of Clark collected P142 million, or 29.1 percent higher than the P110 million revenue goal;
Port of Tacloban collected P81 million, or 324.6 percent higher than the P19 million revenue goal;
Port of Legaspi collected P53 million, or 166.9 percent higher than the P20 million revenue goal; and
Port of Aparri collected P27 million, or 579.6 percent higher than the P4 million revenue goal;
The Port of Davao is notable for its consistent collection performance in 2017, and continues to perform well in January and February 2018.

The Customs chief has declared at the start of the year that the Bureau will be able to hit the target, an achievement that has eluded the BOC for many years now. He remains optimistic that the increase in revenue will continue up to the end of the year.

Source: Bureau of Customs

BOC Exceeds Revenue Collection Target for February Posting a Surplus of P1.965 Billion BOC Exceeds Revenue Collection Target for February Posting a Surplus of P1.965 Billion Reviewed by Phil Newsome on March 02, 2018 Rating: 5
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