THE Bureau of Customs (BoC) said it expects to collect up to P30 billion more than its P939.69-billion official target for the year as it strives to beat its internal “stretch” target.
“We’re very much confident that we will hit the target. In fact, what we’re trying to hit now is the internal target of the Commissioner,” Customs Assistant Commissioner Vincent Philip C. Maronilla told reporters on the sidelines of an event on Monday.
For full-year collections, Mr. Maronilla said the internal target is now “a little less than P1 trillion. If we can reach a trillion, then (that would be) so much better.”
Last week, the BoC reported that its collections in the first six months totaled P456.04 billion, surpassing its P442.62-billion target for the period by 3.03%.
The six-month total represents 48.53% of the Bureau’s full-year official target.
However, the “ghost month” — which discourages superstitious Buddhists and Taoists from embarking on important new ventures — tends to produce weak collections, Mr. Maronilla said.
“Our problem, I think, would start about next month because of the ghost month,” he said.
“But for the past years, we’ve been able to overcome that. So, we’re still confident that we will overcome any challenges that will be faced by the bureau for the month,” Mr. Maronilla said.
Mr. Maronilla also shrugged off risks of the weaker peso on the Bureau’s collections, calling currency factors a “give-and-take situation.”
While a stronger dollar increases the value of exports, businesses may be reluctant to import due to higher costs, he said.
The peso closed at P58.48 to the dollar on Monday, weakening by 10 centavos from its finish on Friday, according to the Bankers Association of the Philippines.
“I don’t think that the increase in the value of the dollar right now and its adverse effect on let’s say, import activities, would affect any projections that we have in reaching our collection target,” he added.
However, the BoC said it still prefers a stronger peso as it “means that we have a stronger economy.”
Separately, goods that violate intellectual property rights remain most-seized items by the BoC, it said.
“That’s a commitment that we have — to maintain our good standing in intellectual property law enforcement. So, these remain the top apprehended imported items,” Mr. Maronilla said.
The BoC is also focused on seizing smuggled agricultural, tobacco, and other excisable products.
In the first half, the BoC has seized around P20 billion worth of smuggled goods, roughly 16.15% lower compared to a year earlier. — Beatriz Marie D. Cruz
