The Bureau of Customs (BOC) will likely continue its streak of meeting its monthly goal collection in February.
BOC assistant commissioner Vincent Philip Maronilla told reporters on the sidelines of the BOC’s anniversary celebration last Tuesday that the bureau has a collection goal of less than P70 billion this month.
“For average, I think we’re targeting to collect about P3.5 billion a day, so we’re confident that we can meet that target on average and provide for a little bit of surplus,” Maronilla said.
“If the assumptions given to us by our bosses are met, the economic assumptions given to us are met and the systems that we’ve already implemented are in place, we’ll be able to meet the February collection and even get the surplus,” he added.
Maronilla said February is usually inventory season, which could affect the volume of imports.
“Usually during the Chinese New Year, there’s an inventory period of about two weeks, they do it in China. So it’s going to affect about two weeks of our collection,” Maronilla said.
“(Despite) the drop of the volume, we’re hoping to still have a surplus. We’re pretty confident that we’ll be able to meet the February target, even despite the drop in volume,” he added.
The BOC previously reported that ir exceeded its collection goal in January by 2.16 percent.
According to its preliminary report, the bureau generated P73.33 billion in revenue for the first month of 2024.
This accomplishment represents a surplus of P1.55 billion above the target collection of P71.78 billion.
The revenue collected in January 2024 also exceeded the previous year’s figures by P2.74 billion, or 3.88 percent.
“The BOC is geared up for intensified efforts in 2024. We are committed to working twice as hard to ensure that we not only meet but exceed our year-end revenue target,” customs commissioner Bienvenido Rubio said.
The BOC has a collection goal of around P1 trillion this year.
