The Bureau of Customs missed its revenue target in May, according to a report from Philstar Biz.
The shortfall was attributed to weaker import volumes, which dragged down collections. Additionally, the suspension of excise taxes on kerosene and liquefied petroleum gas, implemented in response to a national energy emergency, further reduced revenues.
The missed target highlights the impact of policy interventions and economic slowdown on government revenues. Customs collections are a key component of the national budget, and shortfalls may affect fiscal planning.