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Monday, July 15, 2024

BOC overshoots Jan-May target by P12.4b

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The Bureau of Customs (BOC) overshot by 3.9 percent its target of P317 billion for the period January to May this year.

The BOC reported that it collection a total P330.27 billion for the first five months of the year, exceeding its target of P317.87 billion by P12.41 billion.

In a statement, the BOC said this figure represents a seven percent increase from the same period last year when the agency mustered P308.65 billion.

The BOC also reported that it conducted 132 apprehensions in the first quarter with seizures valued at about P28.02 billion.

 “These seizures encompassed a range of items, including general merchandise, counterfeit goods, cigarettes/tobacco, and illicit drugs discovered at various ports,” it added.

The BOC marked 7.01 billion liters of fuel worth P908.52 billion for the start of the fuel marking program in 2019 to May 9, 2024. Vito Barcelo

“The BOC remains committed to contributing to the Department of Finance’s goal of fostering national socio-economic growth by collecting additional revenue and safeguarding the country’s borders,” Customs Commissioner Bienvenido  Rubio said.

The BOC was tasked to collect at least P1 trillion in revenues this year.

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