Subic posts P95.34M in revenue surplus

SUBIC -- The Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR) here posted a P760.14 million collection in September or a combined 14.34 percent surplus over the total collection target of P664.8 million.

Periodic reports indicated that the BOC and BIR gained a combined surplus of P95.34 million last month when the two agencies collected P677.18 million and P82.96 million respectively.

The reports also showed that BIR slightly surpassed its September 2012 goal by 1.21 percent or P988,870, as well as the September 2011 collection of P72 million by 15.22 percent or P10.96 million.

The BIR also said it has surpassed its collection goals in six out of the nine months of the first three quarters this year.

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 percent.

Meanwhile, Subic BOC reported a collection increase of 16.19 percent over its September target which means an actual surplus of P94.35 million over this year’s September target.

The agency’s P677.18-million collection this year fell short by 1.56 percent, or P10.73 million, compared to the P687.91-million take in the same period last year.

According to BOC records, its August collection is by far the biggest monthly tally since January this year. It also represented the biggest comparative difference of 87.81 percent, or P319.7 million, as against the collection record in the same period last year.

In terms of collection targets, the BOC recorded its biggest deficit in July when its collection fell 46.75 percent short of its P604.13 million target. Its biggest surplus, on the other hand, was in August when its collection was 26.05 percent more than its P542.46-million target.

BOC data also showed that the Port of Subic was among the small ports in the country that posted surplus even when the BOC here fell short of its target in September.

The Subic BOC topped the nationwide collection performance for two months in a row, 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 coming from the BOC and P966.49 million from the BIR. (Sunnex)