TAX COLLECTIONS by the Bureau of Customs (BoC) in March totaled P54.5 billion, beating the bureau’s target due to stronger-than-expected collections by ports in the provinces.
March collections beat the target by 14.2%. They also exceeded year-earlier levels by 22.1%. The 2020 lockdown began in mid-March that year.
“The BoC’s positive revenue collection performance is attributed to the improved valuation and intensified collection efforts of all the ports,” it said in a statement.
The agency said 13 out of 17 collection districts exceeded their targets for the month including the Ninoy Aquino International Airport as well as ports of San Fernando, Batangas, Iloilo, Cebu, Tacloban, Surigao, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, and Limay.
Tax collections hit P148 billion in the first quarter, beating the target by 10.5%. The margin over year-earlier levels was 1.9%.
“The Bureau maintains its border security measures against undervaluation, misdeclaration and other forms of technical smuggling and collect lawful revenues,” the BoC said. — Luz Wendy T. Noble