Bureau of Customs posts P1.3-B collection surplus in May 2017

The Bureau of Customs (BOC) recorded a surplus of PHP1.3 billion in its collection for May.


Amid different issues the Philippines have been facing now, there's still great things happened and to happen.

President Rodrigo Duterte appointed Nicanor Escalona Faeldon as the head of the Bureau of Customs. As in his watch, he never disappointed the Filipinos for doing great in his post.

According to the report, the BOC recorded a surplus of PHP1.3 billion in its collection for May 2017.

It is said that the earnings last month exceeded by 3.4 percent the target revenue of PHP38.28 billion when it collected a total of PHP39.6 billion, said the BOC Financial Service.

"It added that the May collection was 23.5 percent higher, or PHP7.52 billion more than the figures reported during the same period last year.

In a statement, the BOC attributed the improved collection performance to higher oil prices in 2017, and increase in volume and value of imports by 19.7 percent and 28.3 percent respectively.

Likewise, the foreign exchange rate has increased from PHP47.05 in 2016 to PHP49.9 in 2017, thereby resulting in higher revenue yields."

Apart from it, different Cities were also recorded improving the revenue performance on May. Might as well, check it out below.
The Port of San Fernando collected PHP248 million, up by 26.8 percent from the Php195.8 million target revenue

The Port of Manila collected PHP6.135 billion, up by 0.6 percent from the PHP6.101 billion target revenue.

The Manila International Container Port collected PHP12.08 billion, up by 2.4 percent from the PHP11.80 billion target revenue.

The bureau’s office at the Ninoy Aquino International Airport collected PHP3.35 billion, up by 3.2 percent from the PHP3.24 billion target revenue.

The Port of Batangas collected PHP9.05 billion, up by 5.5 percent from the PHP8.58 billion target

The Port of Tacloban collected PHP22.8 million, up by 22.5 percent from the PHP18.6 million target.

The Port of Cagayan de Oro collected Php1.46 billion, up by 52.9 percent from the PHP953.2 million target.

The Port of Zamboanga collected PHP22.3 million, up by 14.7 percent from the PHP19.4 million target.

The Port of Davao collected PHP1.572 billion, up by 37.4 percent from the PHP1.143 billion target.

The Port of Subic collected PHP1.370 billion, up by 2.7 percent from the PHP1.334 billion target.

The Port of Clark collected PHP128.8 million, up by 16.5 percent from the PHP110.6 million target.

The report added that the ports of Cebu and Limay, which posted PHP1.83 billion and PHP2.28 billion, respectively are also expected to meet their collection targets.

For his part, Customs Commissioner Nicanor Faeldon is confident that the growth in government revenue will continue up to the end of the year.

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NowReader: Bureau of Customs posts P1.3-B collection surplus in May 2017
Bureau of Customs posts P1.3-B collection surplus in May 2017
The Bureau of Customs (BOC) recorded a surplus of PHP1.3 billion in its collection for May.
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