The Philippine Bureau of Customs (BOC) posted another collection setback in September, its ninth consecutive month of missing its target.
Based on preliminary data, BOC took in P23.17 billion in September, P7.13 billion short of its goal of P30.30 billion.
The shortfall, however, is expected to narrow when the P700-million tax expenditure fund, paper profits from government imports, is factored in.
Compared to last year’s September collection of P22.62 billion, the latest take was higher by about P500 million.
The deficit further widened the revenue gap to date to P43.75 billion. For the first nine months of the year, BOC collected P213.30 billion against its target of P257.05 billion.
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