Close  

BOC posts record revenue collection for January

By: - Reporter / @santostinaINQ
/ 10:11 PM February 08, 2017
Bureau of Customs. (Photo from the Philippine Daily Inquirer)

Bureau of Customs. (Photo from the Philippine Daily Inquirer)

The Bureau of Customs (BOC) hit a 101 percent record in its January revenue collection, reaching P35.745 billion and surpassing its revenue target of P35.509 billion by P236 million for the period.

In a preliminary report, the BOC’s Financial Service (FS) disclosed that the January collection is 115 percent higher than the cash collection of P31.08 billion in 2016.

ADVERTISEMENT

“The amount in revenue collection for January 2017 could hit an outstanding sum in the final financial and revenue collection reports that will be released by the National Treasury soon,” the BOC said in a statement .

Commissioner Nicanor Faeldon said the agency’s increase in collection could be attributed to the trust and confidence the bureau has regained from its stakeholders.

FEATURED STORIES

“Our relentless consultations with all transacting publics, including that of BOC personnel, on continuous improvement of policy reforms and programs have built public trust that, in effect, created a conducive environment especially in transparent trade facilitation and in the work performance of our employees,” he said.

Faeldon also credited the surplus in BOC’s revenue collection in January to the outstanding performances of its 11 major ports, namely San Fernando, Manila, Legaspi, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, and Limay, which exceeded their respective income targets.

The Manila International Container Port (MICP), on the other hand, posted a promising performance of 99.1 percent and is seen to hit or surpass its P10.9 billion target once all collection records are consolidated in the final report by the Bureau of Treasury.

“We remain highly-optimistic that the MICP will bring on a 100 percent revenue collection performance and join the list as the 12th port that hit its revenue target for January 2017,” Faeldon added.

President Rodrigo Duterte was the guest of honor during the agency’s 115th Founding Anniversary Wednesday.

Finance Secretary Carlos Dominguez also joined Duterte in giving recognition to the best performing collection districts and their exemplary foreign counterparts during the awarding ceremonies. /atm

ADVERTISEMENT
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bureau of Customs, customs revenues, Nicanor Faeldon
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.