BOC posts strong mid-November revenue

November 17, 2017 - 4:42 PM
BOC with logo
The Bureau of Customs building, with its logo (inset). INTERAKSYON FILE

MANILA – The Bureau of Customs mid-November collection performance showed strong revenue growth as it reached more than P3-billion revenue based on the preliminary collection data from the Financial Service.

Commissioner Isidro Lapeña reported that the bureau exceeded its daily collection target for November 3 and 10, collecting a total of P3.045-B and P3.839-B, respectively. The revenue collected on the 3rd and 10th of November are 22.2% and 54.1% higher against the target daily collection of P2.492 billion.

Initial figures for the November 3 performance indicate these contributions from six collection districts, namely:

• Port of Manila, with P478.72 million daily collection, 19.2% higher against its P401.71 million revenue target;

• Manila International Container Port (MICP), with P792.12 million daily collection, 2.2% higher against its P775.38 million revenue target;

• Ninoy Aquino International Airport (NAIA), with P293.77 million daily collection, 36.7% higher against its P214.87 million revenue target;

• Port of Batangas, with P1.109 billion daily collection, 96.2% higher against its P565.32 million revenue target;

• Port of Iloilo, with P48.19 million daily collection, 245% higher against its P13.96 million revenue target; and

• Port of Cagayan de Oro, with P64.37 million daily collection, 2.3% higher against its P62.93 million revenue target.

Meanwhile, according to Cecile Marie Soriano, director of the bureau’s Financial Service, the increase in revenue on November 10 is initially attributed to the collection performance of the following districts:

• Port of Batangas, with an average daily collection of P1.940 billion, 243% above its daily target;

• Port of Cagayan de Oro, with an average daily collection of P85.67 million, 36% above its daily target;

• Port of Davao, with an average daily collection of P252.44 million, 244% above its daily target; and

• Port of Limay, with an average daily collection of P189.20 million, 115% above its daily target.

Lapeña said that the revenue growth, aside from the recent reform measures, is also attributed to the increase in the volume of importation of motor vehicles in Port of Batangas which has the highest percentage share in the total BOC daily collection.

“I am very optimistic that the figures can still progress once the rest of the outports submit their mid- November collection reports,” Lapena added.

Revenue posted on November 3 and 10 is by far the highest daily collection made by BOC.

It may be recalled that on September 28 and 29, the bureau also posted more than P3 billion in its daily collection.

The October revenue performance also made history after hitting the P42-billion mark.

Lapena is forecasting that with the continued efforts of the bureau to improve customs procedures and trade facilitation, revenue growth will continue up to the end of the year.