Customs exceeds April target – BusinessWorld Online

Customs Bureau (BoC) den Wednesday said it exceeded its April collection target by 20% as the value of imported oil continued to rise.

In a statement, the BoC said it collected P65.7 billion in April, 19.6% higher than its P54.9 billion target for the month.

“The collection benefit is attributed to the improved valuation, intensifienforcement against illegal imports and improved compliance of dealers with customs legislation, ”said BoC.

April was the fourth month in a row that Customs has exceeded its monthly collection targets.

Last month’s collection showed a 28% increase from the P51.28 billion collected in April 2021, but 7% lower than the record high of P70.72 billion logged in March.

BoC spokesman and assistant commissioner Vincent Philip Maronilla said the high volume and value of imported oil products only partially contributed to the increase in BoC collections in April.

“Our continued efforts for a more efficient and effective collection once again proved to be the right formula,” he said via Viber announcement.

The BoC in March saw significantly higher collections from oil products after crude oil prices rose in the wake of Russia’s invasion of Ukraine.

Referring to a preliminary report from the BoC-Financial Service, the agency said 14 of the 17 collection districts hit their targets in April.

These were the ports of San Fernando, Manila, Batangas, Legaspi, Iloilo, Cebu, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri and Limay, as well as the Manila International Container Port (MICP).

The strong collections in April pushed the four-month total to P253.62 billion, representing almost 37% of the 2022 collection target of P679.262 billion.

“For the last 2 years, the BoC has been able to surpass its annual target collection by + 6.23% and + 4.35% respectively during a global health crisis,” it states.

In April, the BoC raised P6.3 million following an auction of luxury cars that turned out to be unannounced.

Two vehicles, a used Mercedes SLK350 2001 and SLK55 2001, were sold to RMCE Metal Products Trading Corp., while a brand new Mercedes Benz G500 was sold to Mopen Trading Corp.

Three other luxury cars were unsold and will be auctioned off at a later date.

In 2021, Customs collected P645.77 billion, 4.7% higher than its full-year target of P616.75 billion. This was also 20% higher than P537.69 billion in 2020, when the pandemic hampered supply chains. – Tobias Jared Tomas