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Tuesday, July 16, 2024

Customs collection up 6.5%, topped revenue target in first four months

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The Bureau of Customs (BOC) said Monday it collected P80.822 billion in April 2024 and exceeded its revenue target for the month by P3.192 billion.

This brought the agency’s total collection in the first four months to P299.674 billion, overshooting its goal by P11.148 billion. It also represented a 6.5-percent increase over the same period in 2023.

The BOC cited several factors for the feats, including more accurate assessments of import duties.

The revenue collected by the agency plays a crucial role in fueling social and economic development initiatives across the country.

It said that under the leadership of Commissioner Bienvenido Rubio, the BOC achieved significant milestones in meeting its revenue goals and implementing digital Customs procedures.

The BOC also carried out trade facilitation initiatives through workshops, conferences and international engagements. It said the intensified efforts against smuggling led to significant seizures in the first quarter of 2024.

“By diligently executing our duties, we aim to not only meet revenue targets but also to catalyze socio-economic development initiatives that positively impact the lives of our countrymen,” Rubio said.

“We strive to create a brighter future for all Filipinos, ensuring that the benefits of our efforts are felt across communities,” he said.

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