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BOC confident to surpass 2016 revenue target
« on: December 20, 2016, 04:45:40 PM »
BOC confident to surpass 2016 revenue target

MANILA, Dec. 20 (PNA) -- The Bureau of Customs (BOC) has expressed optimism that the bureau will hit its full revenue collection target this year after surpassing its November collection by PHP3 billion.

During Tuesday’s press briefing at the Malacanang, BOC acting spokesperson for enforcement and intelligence operations Neil Anthony Estrella said “very likely” the revenue collection will exceed target.

"That’s our expectation," Estrella told Palace reporters.

Estrella said the November’s revenue collection has exceeded by PHP3 billion and is expected to repeat the performance this December.

"As of now, all indicators are pointing that we will meet again the target for this month considering that last November, we exceeded around more than PHP3 billion," he said.

For the first half of December, he said the BOC has already collected PHP19.947, which is 57 percent of the total PHP35.116 billion assessed target for December this year.

"Given this improvement, the Bureau of Custom is already 93.3 percent of the PHP409 billion assessed target for the whole year," Estrella said.

Estrella attributed the enhanced revenue collection to the positive trust rating of the Bureau of Custom, reduction of corruption, cooperation of stakeholders, transparency in the bureau and full efforts of traders to increase revenue collection.

He said all CCTVs are now in place, removing the opportunity of corruption at least within the BOC premises.

"We installed first the CCTVs within the vicinity of the Port of Manila and then next in our airports where there are BOC personnel," Estrella said.

Estrealla said the BOC, under the stewardship of Nicanor Faeldon, has also stepped up efforts to fight smuggling.

He said BOC has already submitted the draft of implementing rules and regulations (IRR) of Republic Act No. 10845 or the Anti-Agricultural Smuggling Act of 2016 to the Department of Finance (DOF) for final review.

Under the IRR draft, the large-scale agricultural smuggling will be classified as economic sabotage with a maximum penalty of life imprisonment and a fine of twice the fair value of the smuggled agricultural product and the aggregate amount of the taxes, duties and other charges.

"This is part of the commitment of the BOC in the fight to eradicate smuggling in the country," Estrella said.(PNA)

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