BIR, BOC surpass September collection goals

Business

By Joann Villanueva  

MANILA – Encouraging news: Both the Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR) have exceeded their September 2020 collection goals.

Department of Finance (DOF) preliminary data show that BOC exceeded its P37.72-billion revenue goal for the month by 33.17 percent after its collections reached P50.23 billion. The amount, however, is lower than its P58.80-billion collections in September last year.

In a recent statemen, BOC said 14 of its 17 ports around the country surpassed their targets for the month. The ports that posted increased collections include San Fernando (La Union), Manila International Container Port (MICP), Ninoy Aquino International Airport (NAIA), Batangas, Cebu, Tacloban, Surigao, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri, and Limay (Bataan).

BOC said it has exceeded its monthly collection goals since June due to “intensified collective effort of all ports, gradual improvement of importation volume and the government’s efforts in ensuring the unhampered movement of goods domestically and internationally considering the pandemic status.”

As of end-September this year, the agency collected P397.51 million, higher than the P372.15 based on the approved figures by the inter-agency Development Budget Coordination Committee (DBCC) for the period.

“Despite this performance, the BOC maintained its border security measures against undervaluation, misdeclaration, and other forms of technical smuggling and collected lawful revenues,” it said.

BIR’s collections last September, on the other hand,  reached P118.63 billion, higher than its P117.59-billion target. This, however, is lower than the P150.48 billion it collected in the same period last year.

As of end-September this year, BIR’s collection totaled to P1.423 trillion, higher than the P1.31 trillion set by economic managers.

DBCC has lowered the collection targets of the BOC and the BIR after taking into consideration the impact of the pandemic. (PNA)

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