
Bureau of Customs. INQUIRER FILE PHOTO MANILA, Philippines — The Bureau of Customs (BOC) conceded on Monday that it could not hit its full-year collections goal for 2014 even as revenues during the first 11 months continued to rise double-digits on the back of “major headway made in reducing smuggling.” BOC Commissioner John Phillip P. Sevilla also pledged to introduce more reforms in 2015 to further shore up revenues while putting a stop to unscrupulous activities of some importers. Sevilla told a press conference that while the 2014 collections target of P408.1 billion cannot be achieved, the growth of almost a fifth could still be maintained until yearend. BOC data showed that the January-to-November collections increased by 17.8 percent to P331.2 billion from P281.1 billion in the same 11-month period in 2013. The collections during the first 11 months, however, were 11.9-percent below the target of P376.1 billion for the period. In the month of November alone, collections amounted to P31.2 billion, up 10.5 percent from the P28.2 billion posted in the same month in 2013. The revenues in November were 16.4-percent less than the target for the month worth P37.3 billion. Not only this year’s goal but also the P456-billion target for 2015 as earlier determined by the inter-agency, Cabinet-level Development Budget Coordination Committee may prove to be difficult to reach. “The 2015 target is impractical and unrealistic, especially with oil prices down,” Sevilla explained. Despite the challenges in hitting their collections targets, Sevilla noted that the BOC has Read More …