Bureau of Customs Confident of Exceeding July Collection Target by P2 Billion

The Bureau of Customs (BoC) in the Philippines is on track to exceed its July collection target by at least P2 billion, based on daily averages and with three collection days remaining in the month. "As of today, we still have an excess of almost P2 billion. But we have three days to go, and we have to collect P10 billion (in) three days," BoC Commissioner Ariel F. Nepomuceno told reporters. "On the per-day average, we were collecting around P3.8 billion to P4.2 billion, so I think kaya naman (it is doable)," he added. If the nearly P2-billion surplus is maintained, the BoC's July collections would reach approximately P84 billion, against the P82-billion target for the month. When asked about the reasons behind the strong collections, Mr. Nepomuceno cited "stricter assessments." He explained that even if the volume of goods decreased, the collection still increased due to these more stringent valuation methods. Meanwhile, the BoC is also looking to fast-track the sale of around 200 seized vehicles, estimated to be worth about P500 million. "My instruction is to continue selling every two weeks… It will take a long time because it involves 200 units," he stated. Since the start of the year, the BoC has already raised P340 million from the sale of seized vehicles, according to Mr. Nepomuceno. Separately, he mentioned that government agencies are still hoping to sign a joint administrative order (JAO) within the month. This JAO is designed to ease port congestion and regulate cargo handling charges. Mr. Nepomuceno has indicated that once signed by the Departments of Finance, Trade and Industry, and Transportation, the JAO will empower the BoC to coordinate government efforts to address port congestion. Information Source: BusinessWorld Economy