BOC's February collection below target

MANILA, Philippines - The Bureau of Customs (BOC), collected P20.98 billion in February, slightly higher than year-ago figures but below the target for the month of P25.6 billion.

In February last year, the agency collected P18.58 billion, Customs Commissioner Ruffy Biazon said yesterday.

Biazon also said that while the agency has not been hitting the monthly targets, it has been surpassing collections in the corresponding months in 2010.

He said revenues are traditionally slower in February because of the Chinese New Year and because the month is shorter compared to other months.

He said that while the 2012 Chinese New Year fell in January, the impact on business activities spilled over in February.

During Chinese New Year, exports from China are slower as businessmen are busy with the festivities, he said.

In January, the BOC also missed its target of P26 billion by roughly P3 billion, collecting only P22.95 billion during the month.

However, Biazon said collections in January exceeded the P20.53 billion recorded in the same month last year.

He expressed optimism that February revenues would also be better than collections in the same period last year.

Biazon also vowed to step up efforts to meet the agency’s lowered revenue goal of P357 billion for 2012.

The Aquino administration has agreed to lower the revenue goal of the BOC to a range of P347 billion to P357 billion from P365 billion originally.

He said that to meet the revised goal, the agency would strengthen its post-entry audit.