BOC collected P73.79B in February, beats target
The Bureau of Customs (BOC) bucked expectations of a seasonal trade slowdown after collecting revenues above target in February.
According to the agency, revenues reached P73.79 billion in February, up 2.8 percent from the same period last year.
Although slightly lower than January’s collection by nearly P7 billion, the figure surpassed the P72.5-billion target set for the month by the Development Budget Coordination Committee, resulting in a P1.2-billion surplus.
The BOC earlier told the Inquirer that collections were expected to come in below January’s level due to slower trade activity, largely because exporters from China typically ship goods a month in advance of the Lunar New Year. Still, the agency said it would remain within target and that it plans to return to at least P80 billion in March.
BOC Commissioner Ariel Nepomuceno, in a Viber message, attributed the growth to accurate valuation, stronger enforcement of the Customs Modernization and Tariff Act, and the improving discipline of agency personnel and officers.
February’s figure brings the BOC’s two-month collections to P154.74 billion, about P3.73 billion more than last year. This growth is significant as the agency gears up to reach its long-elusive goal of P1 trillion in revenues by year-end, after missing the target last year.
In a public statement, Nepomuceno said the agency defied expectations of lower collections.
“We were able to prove, with the efforts of everyone, especially our port collectors, that it can be done—with the proper assessment, with the stricter implementation of enforcement rules, and with the due diligence of our deputy commissioners, who keep on budging everyone to collect properly,” Nepomuceno said.
To recall from an interview with Nepomuceno last week, technical slowdowns in the system and logistical issues at ports are usually among the challenges in reaching the BOC’s monthly revenue goals. The agency has since addressed this by blocking nonpayment related IT activities during the last week of the month.
A “Commissioner’s Lunch” has also been implemented to nudge and oversee officers, ensuring proper assessment and stricter enforcement of rules for better revenue collection.
