The Philippine Bureau of Customs (BOC) has failed to hit its 2012 collection target, preliminary data released by the agency showed.
The agency collected P287.65 billion for 2012 or 17.1% below the target of P347.07 billion. Of the total, cash collections represented P282.2 billion and tax expenditure fund or paper revenues from imports of government agencies, P5.452 billion.
The total does not include collection from the Port of Manila, Manila International Container Port, Port of Cebu and some outports. For 2013, BOC is tasked to collect P397 billion, 14.41% more than the P347 billion target for 2012.
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