MANILA, Philippines - The collection shortfall of the Bureau of Customs (BOC) against its 2011 target of P320 billion may hit an estimated P65 billion, more than three times the 2010 shortfall of P21.5 billion, according to the latest data from the Department of Finance (DOF).
From January to November 2011, the bureau raised only P249.45 billion out of the target P290 billion for the period, preliminary data showed.
Thus, BOC officials are now in a quandary on where to source the shortfall, which is needed to fund the bureau’s P1.816-trillion budget for 2012.
When Ruffy Biazon took over the helm of the government’s second largest revenue collection agency on Sept. 19, he said it would be hard to meet the targets given the difficult environment.
In September, the BOC collected only P20.2 billion, lower by 23 percent than the target for the month of P30.165 billion.
In October, the BOC collected P22.699 billion or 25.5 percent below the target of P30.489 billion set for the month.
For the month of November, preliminary data showed that the bureau raised P23 billion, short of its P30.6-billion goal for the month.
However, Finance Secretary Cesar Purisima said it was too early to judge the performance of Biazon in the bureau.
“Let’s give him a full year,” Purisima pointed out.
Biazon, who took over the helm of the bureau after Angelito Alvarez resigned from his post in mid-September, also said that jitters brought about by the leadership change affected revenue.
The Customs chief expressed hopes that the increase in trade volume in December, which traditionally happens, would narrow the collection shortfall for the whole year.
Purisima stressed that the revenue goal of the agency remains at P320 billion even as the inter-agency Development Budget Coordinating Committee (DBBC) approved a lower revenue projection of P276.4 billion for the BOC and P935.5 billion for the Bureau of Internal Revenue (BIR).