BoC, BIR post P95.94M Surplus

SUBIC BAY FREEPORT,  – Two government collection agencies in this free port have reported a combined surplus of P95.34 million last month after posting a total collection of P760.14 million.

According to their periodical reports, the Bureau of Customs (BoC) here collected a total of P677.18 million in September while the Bureau of Internal Revenue (BIR) came up with P82.96 million. The combined BOC and BIR tallies represented a 14.34 per cent surplus over the total collection target of P664.8 million for September.

The reports also showed that BIR slightly surpassed its September 2012 goal by 1.21 per cent or P988,870, as well as the September 2011 collection of P72 million by 15.22 per cent or P10.96 million. Still, BIR’s September collection is among the agency’s lowest monthly revenue record this year, which is topped by its April collection amounting to P139.43 million.

The BIR recorded its biggest surplus in March when it exceeded its P111.52-million collection goal by 22.38 per cent. The BIR also said it has surpassed its collection goal in six out of the nine months of the first three quarters this year. Meanwhile, BoC-Subic reported a collection increase of 16.19 per cent over its September target. This meant an actual surplus of P94.35 million over this year’s September target.

The BOC-Subic’s P677.18-million collection this year fell short by 1.56 per cent, or P10.73 million, when compared to the P687.91-million take in the same period last year. According to BoC records, its August collection, so far, is the biggest monthly tally since January this year. It also represented the biggest comparative difference of 87.81 per cent, or P319.7 million, when placed against the collection record in the same period last year.In terms of collection targets, the BoC recorded its biggest deficit so far in July when its collection fell 46.75 per cent short of its P604.13 million target. Its biggest surplus, on the other hand, was in August when its collection was 26.05 per cent more than its P542.46-million target. BoC data also showed that the Port of Subic was among the small ports that posted some surplus even when the BOC here fell short of its target in September. In fact, BoC-Port of Subic topped the nationwide collection performance for two months in a row by posting the biggest surplus of P141.33 million in August and P94.35 million in September.

From January to September, the Subic Bay Freeport already contributed to the national treasury a total of P5.78 billion, with P4.81 billion from the BoC and P966.49 million from the BIR.

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