BoC Collection exceeds target by 12% in November


The Bureau of Customs’ (BoC) on Friday said it has surpassed the collection target by 12% in November totalling up to P40.239 Billion.

Custom Commissioner Nicanor E. Faeldon announced that the BoC has collected P40.239 billion for the month of November 2016, whereas the revenue target set was P36.450 Billion by Development Budget Coordination Committee. Boc’s Financial Service further reported that P40.239 Billion was 27% higher than last year’s November which was P29.061 Billion.

“In our outlook assessment report, the current collection record has exhibited a better leadership performance in the past five months in 2016, covering July to November,” Financial Service said.

The data also explained that it was only November 2016 that the BoC exceeded its target since December 2016, when the bureau collected P38.105 Billion surpassing the target of P31.984 Billion.

BoC’s Financial Services (BOC-FS) mentioned the positive hike was due to Customs Commissioner Nicanor Faeldon, Stakeholder’s cooperation, precision in transactions, and trader’s efforts in moving the BOC breach its revenue goal.

Further BOS cited, out of 17 BOS Ports, the Manila International Container Port (MICP) posted a huge P1 Billion exceeded from its P10.367.14 Billion revenue target for November by collecting P11.362 Billion.

This P1 Billion surplus in the revenue collection target for November might be noted to the positive outlook on Commissioner Faeldon and the augmented volume of imports in the port came in by twin holidays, the Christmas season and the Chinese New Year Holidays, said Lawyer Danilo G. Ballena, Jr., chief of staff of current MICP Collector Vincent Philip Maronilla.

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