The regional office of the Bureau of Customs in Bicol disclosed on Monday it was short of P17.4 million in its collection target of P135.2 million during the past three quarters of this year. The agency attributed the shortfall due to the decrease in import duties paid by companies operating in the region.
BOC Bicol assessment chief Salvador Ruivivar, Jr., said the agency was able to collect only P117.9 million against its revenue target, a 12-percent less during the period from January to September of this year.
Ruivivar said the agency needs to raise P62.7 million in the remaining months of this year to meet the P180.6-million collection target.
The breakdown of the three-quarter collection indicates that during the first quarter, the agency collected P 32.2 million or P10.4 short of target; second quarter, with P48.9 million or P 2.4-million surplus; and third quarter, with P36.6 million or P9.3-million deficit.
Ruivivar, noted that P 117.8-million collection during the past three quarters of this year is 10 percent higher compared to the P106.4 million collected last year.
Last year, the BOC was able to collect P225.9 million, surpassing its collection target of P166.9 million and equivalent to a 35-percent increase or P58.9-million surplus.
Ruivivar said the decrease in collection may be attributed to the slowdown in importations by companies operating in the region. The arrivals of foreign vessels engaged in importation and exportation have significantly dropped, affecting BOC collection target, he said.
The customs officer said major importers that contribute to the agency collection performance include cement manufacturing plant Goodfound Cement Corporation and motor rebuilding facility of SR-5 Trading in Camalig town in Albay, and Masbate Gold Project of the Filminera Resource Corporation in Aroroy.
The widely opposed, controversial open pit mining of Rapu-Rapu Polymetallic Project by the Rapu-Rapu Minerals in Albay finally finished its productive extraction, also diminished the source of customs export duties. (from PNA report)