Customs misses Sept revenue goal

Reuters

Posted at Oct 15 2010 05:56 PM | Updated as of Oct 16 2010 01:57 AM

MANILA, Philippines - The country's second biggest tax agency, the Bureau of Customs, said its September cash collections were P3.7 billion ($86 million) below target, a day after the main tax agency said it had beaten its goal.

Customs Commissioner Angelito Alvarez said in a statement on Friday that cash collections in September reached P19.652 billion against a target of P23.358 billion.

On Thursday, Bureau of Internal Revenue said it collected P60.96 billion in the month, P1.06 billion more than its target.

Customs said its cash collections in the first 9 months of the year were P170.3 billion, P1.9 billion less than the target of P172.2 billion.

The agency has an annual revenue target of P280 billion, which includes a cash collection target of P241 billion.