In an interview during the general assembly of the Clark Investors and Locators Association (CILA) here the other day, Lina attributed this to “better processes that led to lesser corruption.”
The BoC set the P106.87 billion target for April to June, up from an earlier P105.03-billion target set under this year’s fiscal program. The target covered P16.33 billion in import duties, P81.63 billion in value- added tax (VAT) and P8.91 billion in excise tax Citing better processes and lesser corruption as reasons for the P2 billion excess in revenue target, Lina said he is instituting measures leading to “lesser contact with Customs personnel.”
“The lesser the contact, the lesser the propensity for corruption,” he said.
For the third quarter, the bureau is now programmed to collect P111.97 billion, up from P111.45 billion. The total covers P17.11 billion in import duties, P85.52 billion in VAT and P9.34 billion in excise tax.
In the last three months, the bureau has adjusted its target to P125.52 billion from P116.76 billion initially. Broken down, the adjusted amount consists of P19.18 billion in import duties, P95.87 billion in VAT and P10.47 billion in excise tax.
The BOC is the government’s second biggest source of revenue compared to the Bureau of Internal Revenue (BIR) and the Bureau of the Treasury (BTr). For the first three months of 2015, the agency collected P92.30 billion, in contrast to the BIR’s P307.10 billion and the BTr’s P37.9 billion.
