MANILA- The Bureau of Customs was short of its 2019 goal by nearly 5 percent, as it set a higher target for this year, an official said Wednesday.
The customs bureau collected P630.34 billion, compared to its P661 billion target, Customs Assistant Commissioner Vincent Maronilla told reporters.
For this year, Maronilla said the agency could meet its P730 billion collection target with the full implementation of the fuel marking scheme.
Weak imports and the late implementation of a fuel marking program contributed to the shortfall, he said.
In 2018, the bureau met its P593 billion target.
Oil companies have until Feb. 9 to have their petroleum products chemically marked after paying taxes. The marking scheme also requires the conduct of random field testing on fuel products.
“Whatever stock they have na hindi markado (that is not marked), we’ll confiscate them,” Maronilla said.