BOC posts record revenue collection for January

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.

“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.

“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