The Bureau of Customs collection target for 2016 has been slashed by 18% to P409 billion from P498.67 billion on account of the continuous decline in oil prices and imports in recent months, the agency said in a statement.
Of the total 2016 collection, the cash collection target is P402.5 billion, 12.6% higher than the 2015 figure of P357.4 billion, but 17.6% less than the original goal of P488.7 billion, as indicated in the 2016 Budget Expenditures and Sources of Financing (BESF). The 2016 BESF target was originally set based on the computation of the 2014 and 2015 actual average cash collections by type and source of tax.
The new target was set by the Development Budget and Coordination Committee.
Considering BOC’s January to June collection of P190.6 billion, the agency only needs to take in P218.4 billion to reach its revised 2016 target.
Given this, the goal for the year for each of the 17 ports is as follows:
- Port of San Fernando – P2.1 billion
- Port of Manila – P66.9 billion
- Manila International Container Port– P121.3 billion
- Ninoy Aquino International Airport – P36.1 billion
- Batangas – P92.3 billion
- Legazpi – P201 million
- Iloilo – P2.1 billion
- Cebu – P17.2 billion
- Tacloban – P164.3 million
- Surigao – P10.4 billion
- Cagayan de Oro – P9.8 billion
- Zamboanga – P186 million
- Davao – P11.3 billion
- Subic – P15.1 billion
- Clark – P1.4 billion
- Aparri – P242.8 million
- Limay – P26.2 billion
Image courtesy of renjith krishnan at FreeDigitalPhotos.net
