BOC finds 2011 collection goal difficult

Customs Commissioner Angelito Alvarez said Thursday the Bureau of Customs’s P320-billion collection goal for the year remains a difficult target. The commissioner, citing preliminary numbers, reported that the BOC’s cash collections for June have reached P21 billion largely on oil imports. “The year-on-year improvement shows a growth of no less than 10 percent," Alvarez said. In June last year, the BOC’s cash collections amounted to P19 billion, Alvarez said. Still, the commissioner said it would be difficult to meet the P27.5-billion revenue goal for the month. Last month, the bureau missed its P26 billion collection goal largely on the P2-billion shortfall from the Port of Batangas. The BOC also missed its first quarter goal of P63.39 billion, collecting only P62.62 billion in the first three months of the year. — VS, GMA News