A shot of the Cebu International Port of the Cebu Ports Authority in Cebu City. CDN Digital photo | Brian J. Ochoa
CEBU CITY, Philippines – The Bureau of Customs in the Port of Cebu (BOC-Cebu) is expecting its P3 billion worth of ‘collection surplus’ to increase before 2020 ends.
BOC-Cebu, in a press release dated and published on December 24, reported exceeding its target collection for December after posting around P2.7 billion of revenue.
“A day before Christmas, the Bureau of Customs Port of Cebu has already hit its monthly revenue collection target for December. This is (has exceeded) the P2.554 billion revenue target for the month, (higher) by P130 million or percent,” the agency stated.
BOC-Cebu, one of the country’s 17 districts belonging to the state’s second-biggest tax collection agency, also expressed confidence that their excess income of P3.017 billion will continue to increase before the year ends.
This despite anticipating a slowdown between Christmas Day (December 25) and New Year (January 1) with most importers and brokers having cleared their shipments for 2020.
“The Port which already exceeded the Php27.539 Billion annual target for the year as early as November, increased their 2020 collection surplus to Php3.017 Billion to date,” said BOC-Cebu.
“This figure is still expected to increase by yearend, as collections continue to come in for the last days of December,” they added.
BOC-Cebu has already achieved its 2020 target collection of P27.54 billion last November.
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Acting District Collector for BOC-Cebu, Charlito Martin Mendoza, said he attributed this achievement to ‘the good performance’ made by their district’s frontline workers.
“(They are) tirelessly putting in the extra effort this December to process and release goods without delay,” said Mendoza.
In a report by the Philippine Daily Inquirer, the BOC’s central office is expecting for the entire agency to exceed its target collection this 2020 amid economic and financial downturns brought about by the coronavirus crisis.
As of November, out of the country’s 17 ports, 12 collection districts surpassed their collection goals in November—Aparri, Batangas, Cagayan de Oro, Clark, Davao, Manila, Naia, Subic, Surigao, Tacloban, Zamboanga, and Cebu. /rcg
READ MORE: Customs bureau sees 2020 collection exceeding target