Customs still targets P1 trillion revenue for this year

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April 1, 2026 | 12:00am

MANILA, Philippines — The Bureau of Customs (BOC) remains determined to hit its P1-trillion collection target this year even as the government considers suspending or reducing excise taxes to cushion consumers from soaring fuel costs triggered by the Middle East crisis.

Customs Commissioner Ariel Nepomuceno said the measure could dent the agency’s revenue intake but said the BOC supports the initiative, noting its potential to ease the financial burden on households.

“(The measure’s impact) will be quite heavy, but let’s remember that based on average collections, excise tax brings in around P200 billion to P240 billion every year or about P18 billion to P20 billion a month,” he told reporters.

The BOC is exploring alternative revenue sources to offset potential shortfalls from the measure, which would amount to P136 billion if the suspension begins in May and lasts until December.

“We’re looking for other sources of our performance, hopefully we can manage. We’re not giving up on that,” Nepomuceno said.

After declaring a national energy emergency, President Marcos signed Republic Act 2316, granting him emergency powers to suspend or reduce the fuel excise tax once the average Dubai crude oil price has reached or exceeds $80 per barrel for a month.

Despite this, the BOC chief expressed confidence that the agency would meet its P236.06-billion collection target for the first quarter, buoyed by strong revenue surpluses in January and February.

Preliminary figures showed the BOC had already collected P79.27 billion as of March 30, with another P4 billion expected to be booked on the final day of the month.

Nepomuceno, however, said it may be too early to ask the Development Budget Coordination Committee (DBCC) to adjust its P1.003-trillion target this year.

“It’s too early to request DBCC, because we might still be able to hit the target and hopefully the war will end. But if it gets prolonged, that’s another story,” he said.

Meanwhile, DBCC chair and Budget Secretary Roland Toledo earlier said economic managers would assess the impact of the newly signed law this week.

“The full fiscal implications of a potential excise tax suspension, along with corresponding policy responses, will be thoroughly evaluated by the DBCC in a special meeting scheduled next week,” Toledo told The STAR.