BOC revenue collection improving — Biazon

November 10, 2012 12:23 am 

MANILA, Nov. 9 — Customs Commissioner Ruffy Biazon reported total revenues for the month of October is 17.4 percent higher than its PhP 22.842 billion collection for the same period last year.

He attributed the PhP 26.807 billion total collections to many factors.

He said in a statement: "First, October is usually the month when importations start to peak as traders beef up their stocks for the holidays.

"Second, the leadership change jitters and the period of uncertainty that prevailed when news about my leaving the Bureau to run for a Senate seat in the coming mid-term election is over."

Although, he said that the total collection for the current year's month of October is still short of its target, it is, however, a 90.5 percentage point improvement as its October collection shortfall was narrowed down to only 9.5 % compared to its preceding month shortfall of 23.4 %.

Biazon is hoping to meet the BOC's collection target by yearend or, at least, handle a collection shortfall to a manageable level.

"We have recovered quite well and we hope to sustain this recovery. We will also push vigorously for the attainment of our year-end collection target, even if we feel that the target given us is really stiff and sort of unrealistically high considering the volatility of the global market in 2012," he added.

The BOC's collection target of PhP 347.073 billion for 2012 is 31% higher than the BOC’s actual collection for the year 2011. (PNA)

HBC/FGP/UTB/UTB

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