MANILA: Despite tempered expectations, the Bureau of Customs (BOC) missed its revised target in September by P2.57 billion ($53.5 million).
An initial collection report showed that 10 out of the country’s 17 major ports failed to hit their collection target and have generated P33.95 billion ($706.86 million) in total revenues.
This is a P2.57-billion shortfall, based on the BOC’s new revenue goal of P36.52 billion for the period. The original target was P43.52 billion.
Ports that missed their targets in September were the ports of Manila, which collected P1.05 billion; Ninoy Aquino International Airport, P610 million; Legazpi, P18.2 million; San Fernando, P92.3 million; Tacloban, P5.6 million; Surigao, P800,000; Cagayan De Oro, P116.9 million; Subic Freeport, P322 million; Aparri, P32.3 million; and Limay, P940 million.
All of these were cash collections from the ports and did not include the tax expenditure fund (TEF), or paper revenues from the importation of the government agencies.
The Manila International Container Port (MICP) collected P78 million more than its target for a total of P10.58 billion and is nearing its P10.601 billion target, according to the BOC.
