Customs exceeds collection target

The Bureau of Customs (BoC) reported yesterday that its collections amounted to P280.33 billion are higher than the P278.13-billion target for the first half of the year.

Data from the bureau’s Financial Service showed the agency’s first semester collections have already exceeded half of its P598-billion target for the whole year.

It added the agency’s latest data is 41.6 percent or P14.01 billion higher compared to the P35.417-billion collection in the same period in 2017.

For June alone, Customs collections reached P50.14 billion, 4.9 percent higher than the P47.8 billion target for the month and was 42 percent higher than the previous year’s collection of P35.42 billion.

The agency also revealed that 16 out of 17 of the country’s ports exceeded their target last June.

These include the ports of Batangas, which collected P12.23 billion; Manila, P7.7 billion; Limay, P3.806 billion; Ninoy Aquino International Airport, P3.24 billion; Cebu, P2.44 billion; Davao, P2.41 billion; Cagayan, P1.925 billion; and Subic, P1.724 billion.

On the other hand, collections of the Manila International Container Port amounted to only P13.507 billion, below its P14.738-billion target.

Earlier, Lapeña had said the implementation of the Tax Reform for Acceleration and Inclusion or TRAIN Law has helped the agency to exceed its January to May target.