Customs incurs P7-B deficit in Oct, Nov, dims P585-B target for 2018
Credit to Author: The Manila Times| Date: Fri, 21 Dec 2018 08:26:36 +0000
THE Bureau of Customs (BoC) failed to meet its collection target for two consecutive months in the fourth quarter of the year with a deficit of almost P7 billion, dimming the prospect of hitting its assigned revenue target of P584.881 billion for 2018.
There was no explanation from the office of new Commissioner Leonardo Rey Guerrero as to why the bureau incurred a P6.681 billion deficit for October and November after record-breaking collections from February to September 2018.
Guerrero replaced Isidro Lapena who stepped down in September over billions of pesos worth of shabu that was smuggled into the country.
President Rodrigo Duterte has since moved Lapena to the Technical Education and Skills Development Authority (TESDA) where he assumed the position of director general.
Records obtained by The Manila Times showed that for the month of October, the bureau was only able to collect P56.392 billion as against its target of P56.586 billion or a deficit of 0.3% or P195 million.
For the month of November, total collection was only P50.387 billion versus target of P56.873 billion, down by 11.4 percent or P6.486 billion. WILLIAM B. DEPASUPIL
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