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Philippine Customs' collections reaches 691.68 mln USD in June

Xinhua, July 14, 2015 Adjust font size:

The Philippine Bureau of Customs ( BOC) has collected 31.23 billion pesos (691.68 million U.S. dollars) revenue in June, 14.3 percent higher from the level a year ago, a senior government official said Tuesday.

The BOC's collections for the month has exceeded its target 29. 97 billion pesos (663.77 million U.S. dollars).

The revenues generated in June were derived purely from cash collection, which refers to duties, taxes and fees collected from goods that entered through the Customs ports nationwide, said Customs Commissioner Alberto Lina.

"Overall, the growth in collection was driven by the increase in the total volume of importation by 19.3 percent and slight improvement in the total value of importation by 1.6 percent," he said.

For the period January to June, Customs revenue grew by 2.9 percent to 178.357 billion pesos (3.95 billion U.S. dollars) from the same period last year.

However, the total collections for the first semester of the year was 11.8 percent short from the 202.185 billion pesos (4.48 billion U.S. dollars) target for the period. Endi