BOC may have missed its April collection goal

The Bureau of Customs (BOC) may have missed its collection goal of P25 billion last month, its top official said. The Lenten season likely slowed last month’s collections, said Customs Commissioner Angelito Alvarez. “It’s difficult [to meet the target] because we only had 19 working days," he said. Nevertheless, Alvarez said April revenues have already surpassed actual cash collections of P20 billion a year ago. The bureau is expected to perform better this month in terms of its collection goal given that there are no more long holidays, he added. For the first quarter of the year, the BOC also missed its goal of P63.39 billion, collecting only P62.62 billion in the first three months of the year. The agency, however, surpassed its assigned revenue goals in January and March, exceeding its targets by P600 million and P1.1 billion, respectively. But collections slipped in February, when the agency missed its goal of P20.8 billion, stunted mainly by the celebration of the Chinese New Year, which caused a slowdown in Asian trade. The agency is tasked to collect roughly P320 billion this year, or 14 percent more than its P280-billion goal last year. In 2010, the BOC collected only P227 billion — below its P280-billion target. Alvarez said he would be able to have a clearer picture of meeting the full-year target by June. Asked if the BOC would appeal for a lower collection goal this year, he said: "The final say depends on the Department of Finance and the Department of Budget and Management." Higher collections by the BOC help increase government's chances of containing its budget deficit for the year, programmed at P300 billion or 3.2 percent of the gross domestic product. The government contained the deficit in the first quarter, which was 80 percent narrower than the programmed ceiling for the period. — JMT/VS, GMA News