Customs bureau overshoots revenue goal in April

THE Bureau of Customs (BOC) recorded a collection surplus of P246 million in April, collecting P22.936 billion against its target of P22.690 billion. “We are also above of our January to April goal by 5.68 billion, collecting P83.512 billion for the period. Of this amount, P73.82 billion is in actual cash exceeding the target by P8.4 billion," an official from the Office of the Commissioner said in a text message. “The (collection) figures do not yet include the collections of the ports of Mariveles, Bataan, Davao, and Cagayan de Oro so the collections are likely to increase. BOC is confident to meet cash target for April," the BOC official said. But the official, who asked not to be named, said the Tax Expenditure Fund (TEF) collection was P2.7-billion below target, as availments during the first four months totaled only P9.6 billion. TEF revenues are non-cash collections on paper and do not add to the bureau’s actual cash intake. It is a subsidy by the Department of Budget and Management to government-owned and controlled corporations and state-run companies, mainly to settle customs duties and other taxes arising from the importation of goods. The Port of Manila (PoM) exceeded its P3.5-billion revenue target, collecting P4.8 billion last month. PoM district collector Rogel Gatchalian said his district posted a P1.23-billion surplus, the highest among the major ports. Gatchalian said that fifteen sections of Formal Entry Division (FED) surpassed its monthly collection targets, posting a P338.3-million, while the Harbour Center collected P564 million in April. FED, headed by Antonio Pascual, was able to post positive collections in the last six months, the BoC said. Some 13 PoM offices and sub-ports met their respective goals for April, including Food Terminal Inc and the divisions Informal Entry, Auction and Cargo Disposal, Warehouse Assessment, as well as Masinloc, the BOC said. —VS, GMANews.TV