This year’s celebration of the Chinese New Year contributed as a major factor for the failure of the Bureau of Customs (BOC) to meet its revenue goal for February.
Customs Commissioner Lito Alvarez said importation was low on account of the long holidays last month.
He said the collection goal for February is P20.8 billion but initial figures show that the agency only collected P18.52 billion, 11 percent or P2.28 billion sshort of the target.
“We have collections of about P700 million a day during the first three weeks, while, for the last week of the month, we were hitting P1.2 billion a day,” he said at the sidelines of the deliberations on Finance Secretary Cesar Purisima’s appointment before the Commission on Appointments (CA).
Last January, the BOC exceeded its P20 billion collection goal by at least P582 million primarily because of preparations for the celebration of the Chinese New Year.
Alvarez traced the source of their low collection last month to the failure of Port of Batangas, which accounts for around 20 percent of the P4.2 billion revenue target.