The Bureau of Customs (BoC) in the Philippines is poised to surpass its revenue target for July by at least P2 billion. With three collection days remaining, the agency is optimistic about achieving this goal.
As of last week, BoC Commissioner Ariel F. Nepomuceno reported a surplus of nearly P2 billion. He noted that the agency has been collecting between P3.8 billion and P4.2 billion daily.
On the per-day average, we were collecting around P3.8 billion to P4.2 billion, so I think kaya naman (it is doable),” said Nepomuceno.
Ariel F. Nepomuceno, BoC Commissioner
If this trend continues, the BoC's July collections could total approximately P84 billion, exceeding the target of P82 billion.
The increase in collections is largely attributed to stricter assessments of imports. Nepomuceno highlighted that even with decreased import volumes, revenue has gone up due to improved evaluation processes.
In addition to collection efforts, the BoC is also working to expedite the sale of around 200 seized vehicles, valued at approximately P500 million. Since January, the agency has generated P340 million from these sales.
- BoC aims to sell seized vehicles every two weeks.
- Joint administrative order (JAO) to ease port congestion is expected soon.
Nepomuceno mentioned that a joint administrative order involving the Departments of Finance, Trade and Industry, and Transportation aims to tackle port congestion and regulate cargo handling charges.