BOC revenues fall short of target in May

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MANILA, Philippines – The Bureau of Customs (BOC) missed its revenue collection target in May by 2.1 percent, citing a decline in import volumes and the suspension of excise taxes on kerosene and liquefied petroleum gas (LPG).

In a statement, the BOC said it collected P80.7 billion in revenues last month. This marked the first time the agency fell short of its monthly target this year.

READ: LPG, kerosene excise tax relief gnaws on customs collections

Despite the shortfall, May collections were still 6.62 percent higher than the P75.7 billion recorded in the same month last year.