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MANILA, Philippines – The Bureau of Customs (BOC) fell short of its revenue goal in May, ending a streak of overperformance since the start of the year as weaker imports and fuel tax relief measures dampened collections.
Latest data showed that the BOC had collected P80.66 billion last month, missing its target by P1.73 billion or 2.1 percent.
READ: LPG, kerosene excise tax relief gnaws on customs collections
“This was largely due to reduced import volumes of oil and nonoil commodities, as well as the implementation of Executive Order No. 114, s. 2026, which temporarily suspended excise taxes on selected petroleum products,” the BOC said in a statement.
