BOC hits 101% in Jan 2017 revenue collection



 
February 7, 2017 – The Bureau of Customs (BOC) hit a 101% record in its January revenue collection, reaching P35.745 billion and surpassing its revenue target of P35.509 billion by P236 million for the period.

In a preliminary report, the BOC’s Financial Services Unit (FSU) disclosed that the January collection is comparatively 115% higher than the cash collection of P31.08 billion in 2016.
“The amount in revenue collection for January 2017 could hit an outstanding sum in the final financial and revenue collection reports that will be released by the National Treasury soon,”  the FSU said.
Commissioner Nicanor  Faeldon said the BOC has regained the trust and confidence of stakeholders, thus, its collections continue to rise in line with the agency’s fiscal and administrative policies.

“Our relentless consultations with all transacting publics, including that of BOC personnel, on continuous improvement of policy reforms and programs have built public trust that, in effect, created a conducive environment especially in transparent trade facilitation and in  the work performance of our employees,” he said.

“From the beginning, we worked hard to accomplish our tasks, especially to improve revenue collections, stop corruption, and wipe out smuggling as inspired by our mandate and in compliance with the directives of President Duterte,”

Faeldon credited the surplus in BOC’s revenue collection in January to the outstanding performances of its 11 major ports, namely San Fernando, Manila, Legaspi, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, and Limay, which  exceeded their respective  income targets.

The Manila International Container Port (MICP), on the other hand, posted a promising performance of 99.1% and is seen to hit or surpass its P10.9 billion target once all collection records are consolidated in the final report by the National Treasury.

“We remain highly-optimistic that  the MICP will bring on a 100% revenue collection performance and join the list as the 12th port that hit its revenue target for January 2017,” Faeldon added. 

 Outstanding revenue collections have been reflected in BOC records twice in a row now : in December 2016 with 100.2% in revenue, and most recently, in January 2017. #
 

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Posted in Bureau of Customs, Nicanor Faeldon, Uncategorized

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