Customs fails to meet collection target

The Bureau of Customs fell short of its collection target of P261 billion from the eight-month period this year by more than P58 billion or 4.25 percent but expressed confidence that it would be able to meet the P468-billion collection target for 2017.

Customs Commissioner Isidro Lapeña said that to generate more income, the bureau will implement the correct valuation by raising the benchmark from P40,000 to P80,000 per shipment.

“We have to collect at least P50.1 billion a month to meet the assigned target for this year. We have to correct the valuation of every shipment because at the current rate, the bureau is only collecting P35,000 for every container with a declaration of less than P1 million,” he said.

He said that each container vans worth P1 million should pay the proper duties and taxes of P80,000 to P120,000 which is the correct assessment. 

Topics: Bureau of Customs
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.