DESPITE a collection deficit inherited from the previous administration, the Bureau of Customs (BOC) is optimistic it would meet the revenue collection target of nearly P499 billion for 2016. It depends on our ability to address the other issues, that we improve the revenue collection,” Faeldon said in a news conference. In the past two to three decades, there was only one year in which the bureau hit its target, Faeldon said. The BOC, which oversees the collection of Customs revenues from air and sea ports, fell short of its collection target in 2015. The 2016 revenue target was lowered to P2.975 trillion from P3 trillion.

Source: Manila Times August 22, 2016 16:41 UTC