THE Bureau of Customs (BoC) exceeded its January collection target by 6.92%, though the tally of P47.43 billion represented a year-on-year decline of 15.6%, according to preliminary data for the month.
The BoC said in a statement that 11 out of the 17 revenue districts beat their respective collection targets for the month: Ninoy Aquino International Airport and the ports of Manila, Batangas, Legazpi, Iloilo, Tacloban, Cagayan De Oro, Zamboanga, Davao, Subic and Clark.
On the part of the Bureau of Internal Revenue (BIR), the government’s top revenue generator, Deputy Commissioner for Operations Arnel SD. Guballa said in a text message that its own January totals are still being compiled.
The two agencies surpassed their downgraded collection targets last year, generating a combined P2.4 trillion, also according to preliminary data.
Their targets were reduced several times last year to reflect the likely slump in taxes during the economic downturn.
The 2021 tax collection goals have also been reduced, an indicator of the fragility of the recovery. The BoC is expected to collect P619.5 billion this year while the BIR is tasked to generate P1.904 trillion.
The target for local government units is P223.9 billion this year, against pre-pandemic estimates of P321.6 billion, according to the Bureau of Local Government Finance. — Beatrice M. Laforga