The Bureau of Customs’ (BOC) cash collection in December 2015 reached P32.6 billion, 20.4% more than December 2014’s P27.1 billion.
The latest figure is the highest, in the past 10 years, posted by the agency for December, traditionally a lean period, the BOC said in a statement.
“Companies normally ship in bulk around September in preparation for the Christmas holidays. By December, the ports are already cleared out,” Customs Commissioner Alberto Lina pointed out.
Although the high December collection has not been substantial enough to cover losses brought about by the decrease in oil prices, the BOC chief said “the agency has done substantially well considering external factors have not been favorable to the bureau’s collection performance, highlighting the oil price impact in the world market with the Dubai oil price declining by US$45.4 from US$96.66 in 2014 to US$51.23 per barrel.”
BOC’s total cash collection for the whole of 2015 reached P357.7 billion, 0.2% lower than the 2014 tally of P357.7 billion.
For 2016, BOC’s revenue collection goal is P498.7 billion, 14.25% higher than the 2015 target.
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