Customs Commissioner Nicanor E. Faeldon has ordered the creation of a committee that will address the huge shortfall in revenue collections.
Under Customs Personnel Order D-23-2016, the Committee on Revenue Enhancement (CORE) will be tasked to scrutinize, among others, the daily performance of the 17 collection districts in the country.
It noted that the Bureau of Customs (BOC) continues to fall short of its yearly target, citing last year’s total revenue collection of only P367.534 billion, which was 15.8 percent short of the P436.59-billion target revenue.
For this year, BOC under Faeldon has been given a revenue target of P498 billion.
Aside from scrutinizing the daily performances of the collection districts, the CORE is also tasked to identify loopholes on collections and suggest solutions; study and formulate strategies to maximize revenue collection; and guide assessment officials on how to maximize collection efforts and surpass their respective targets.
Director Cecile Marie Soriano, the Bureau’s statistician and chief of the Financial Services Office, has been designated to head the committee.
Despite the deficit inherited from the past administration, Faeldon expressed strong hopes that the bureau will be able to surpass this year’s target in the remaining months.
BOC, which oversees the collection of customs revenues from air and sea ports, is the second largest revenue-collecting agency in the country.
From January to March, the BOC managed to collect P90.5 billion in revenues, which is two percent lower from P92.3 billion last year.