Business and Economy
BOC misses target collection for June
MANILA – The Bureau of Customs (BOC) has collected only P26.969 billion for the month of June, according to a data obtained by the Philippine Star from the agency.
Though the collections for June were 14.1 percent higher than the collection for the same month last year, the figures are still 16 percent lower than the P33.292-billion target for the month.
The Luzon Cluster collected P10.
256 billion, slightly below its P10.763-billion target while the National Capital Region also collected P14.130 billion, significantly below its target of P19.223 billion.
The Visayas cluster, meanwhile met its target collection of of P1.116 billion while the Mindanao Cluster even went beyond the target with P1.466.5 billion, higher than its target of P1.276 billion.
“Considering all the growth factors versus the actual percentage growth for January to May 2014 compared to the same period in 2013, there is definitely a decline in collection effort,” the memorandum noted.
“Imports in the first quarter of 2014 grew by 24.
7 percent in January, 1.7 percent in February and 9.6 percent in March with the total imports during the first quarter of 2014 amounting to $16.168 billion, a 12 percent increase from the $14.436 billion recorded during the comparable period last year,” the Customs Policy Research Office (CPRO) of the Department of Finance added.
