BOC posts record-breaking November revenue

December 3, 2017 - 9:42 AM
Isidro Lapena speaks at an event during his stint as PDEA director general . Recently installed at the Bureau of Customs, he saw the BOC posting a record highest monthly collection in November . IMAGE FROM NEWS5 VIDEO

MANILA – The Bureau of Customs (BOC) posted P46.470 billion in revenues in November, its highest recorded monthly collection.

Customs Commissioner Isidro Lapeña reported that five collection districts surpassed their monthly targets: the ports of Batangas, Davao, Cagayan de Oro, Clark and Tacloban.

Preliminary figures of the bureau’s Financial Service revealed that the following ports achieved their monthly collection targets:

* Port of Batangas, with PHP13.339 billion collection, 18 percent higher than its PHP11.36 billion revenue target;
* Port of Tacloban, with PHP59 million collection, 177 percent jump from PHP21 million revenue goal;
* Port of Cagayan de Oro, with PHP1.273 billion collection, 1.1 percent hike from PHP1.259 billion revenue goal;
* Port of Clark, with PHP149 million collection, 6.6 percent higher than its PHP140 million revenue target; and
* Port of Davao, with PHP1.56 billion collection, 6.6 percent more than its Php1.464 billion revenue target.

“We have been achieving historical collection figures since September, but the latest November collection is really a milestone for BOC, being the highest in the monthly collection ever achieved by BOC. This, despite having only 19 working days. I think we could have surpassed our monthly target if November has the usual number of working days,” Lapeña said in a statement.

He attributed last month’s efficient collection to three things: the increase in the volume of importation by 7.9 percent compared to last year’s volume of the same period, the increase in oil prices and the impact of the “no tara policy” strictly being enforced.

Lapeña added that auction proceeds, a non-traditional source of revenue, also contributed significantly to this latest collection feat.

According to data from the Port Operations Service, for the month of November alone, total proceeds from auction reached PHP62, 515, 119.12.

Meanwhile, the total proceeds from auctions held in different ports nationwide from January to November reached PHP256, 830,675.91.

Customs, through the sub-port of Iligan, made a successful case settlement with First Nationwide Assurance Company in the amount of PHP110 million, which was posted as part of last month’s revenue.

The agency’s past monthly collection only reached about PHP35 billion while daily average collection amounted to only PHP1.8 billion.

Upon Lapeña’s assumption as customs chief, the monthly and even the daily collections made records in the bureau’s revenue collection history.

September monthly collection was posted at PHP41 billion while October reached PHP42 billion.

Last November 3 and 10, the BOC reached its highest daily collection in the amounts of PHP3.045 billion and PHP3.839 billion, respectively.

“I am really optimistic that by December, the BOC will finally be able to hit, if not surpass its monthly target. Together with all the ports, we are really hoping that we will achieve this,” he added.