BoC shrugs off LPG tax freeze, says collections still on track
THE Bureau of Customs (BoC) said it remains on track to hit its targets for the year despite the suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene.
“In fact for the first quarter, (we had a surplus of) more than P3 billion. If we hit at least a P3-billion surplus this month, going into the first half of the year (we will still exceed our targets),” BoC Assistant Commissioner Vincent Philip C. Maronilla told reporters on Wednesday.
“We were prepared for (the decision to forgo excise taxes). In fact, we were prepared… because everybody was calling for suspension of a larger set of petroleum products,” he said.
“So far, as of Wednesday, and I hope we sustain it, we are up by P5 billion this month,” he added.
In the month to date, he said collections are at P76.2 billion, with two days left in the month.
“(Our) target for the month is P78.6 billion, so (we only need to raise) P2.3 billion (over the remaining two days),” he said.
For May, he said the target is to surpass P80 billion.
He said that the main drivers of collections are improved efficiencies and the strong dollar, which raises the peso value of landed goods.
On Wednesday, the peso closed at P61.567 against the dollar, weakening from its previous record low of P61.30 at the Tuesday close.
In the year to date, the peso has weakened by 4.51%, from its P58.79 finish on Dec. 29, 2025.
However, Mr. Maronilla said the BoC is still waiting on the mid-year review of the Development Budget Coordination Committee for word on target revisions.
“Once that body decides whether to increase it or decrease it, we will know. Most likely by the middle of the year,” he added.
If the excise tax freeze is expanded to diesel and gasoline, it could result in P200 billion in foregone revenue and may warrant a downgrade in collection targets, he said.
“We will see if there are no alternative (sources of taxation),” he said.
“But again, sabi ko nga sa inyo, matiisin naman kami, hanggang kaya namin kolektahin ’yan, tutulong kami (I am telling you that we can bear it, and we will collect as best we can),” he added. — Justine Irish D. Tabile
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