As of June 2: Customs posts record P11.3 billion surplus

MANILA, Philippines —  The Bureau of Customs (BOC) opened the year with a revenue surplus of P11.3 billion as of June 2, banking on tighter assessments and collection efficiency to hit its newly raised P1-trillion target for the year.

Customs Commissioner Ariel Nepomuceno said the agency sustained its surplus streak amid stricter checks on declarations, including classification and volume.

“We double-check the declarations because we’re coming from an environment of distrust. You still have to do a lot of checks and balances,” he told reporters.

Data from the Bureau of the Treasury showed that BOC collections went up by 6.4 percent to P325.7 billion in the first four months from P306.1 billion in the same period last year.

For April alone, BOC collections grew by 15.5 percent to P86.3 billion from P74.7 billion in the same month last year.

The official figures for January to May period have yet to be released.

Nepomuceno said that the Development Budget Coordination Committee recently raised its P1.003-trillion collection goal by P7 billion, citing collection efficiency and inflation.

Asked about the drivers to meet its new goal, he said: “Within our control, the main driver is collection efficiency.”

The surplus trend is likely to continue in May, he added, supported by launched information technology solutions ahead of the Customs Processing System rollout.

The unified digital platform, slated for launch next year, will consolidate key procedures into a single automated system.

Nepomuceno also signaled openness to cutting the mandated 90-day dwell time for foreign containers to 60 days to ease port congestion, while pressing shipping lines to remove overstaying empty containers.