The Philippine Bureau of Customs (BOC) failed to meet its collection target for January due to shorter working days brought about by the Chinese New year.
The January collection reached P23 billion, P3 billion short of its target of P26 billion but higher than the P20.53 billion posted in the same month last year.
“The first months of any year are usually considered a weak period. But our collection for January was higher than last year,” Customs Commissioner Rozzano Rufino Biazon said.
“All other commodities have slowed down but the oil imports surged so our collection year-on-year was higher,” he said.
Preliminary figures show the BOC collected P266 billion in 2011, P54 billion short of its P320-billion target.
This year, the agency has a target of P347 billion.
The BOC is concentrating on other efforts to increase collection, including beefing up its Post Entry Audit program that has so far yielded P130 million in January, almost double the January 2010 take.
The agency is also looking at resuscitating the voluntary disclosure program to give importers the chance to skip payment of penalties for honest mistakes committed in the declaration of import shipments.
Sloping Graph From Coin by worradmu http://www.freedigitalphotos.net/images/view_photog.php?photogid=2026
