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BOC surpasses July 2020 collection target

The Bureau of Customs has surpassed its July 2020 collection target by 5% or 2.398 billion, collecting P50.072 billion against its target of P47.674 billion for the same month, despite the adverse effects of the coronavirus disease and stringent community quarantine.

In a statement, the BOC said their positive revenue collection performance was due to the “improved valuation and volume of importation” along with the bureau’s intensified collective effort on all ports despite the challenges posed by the COVID-19 pandemic.

Aside from this, it added that it helped that the government ensured that the movement of goods domestically and internationally is unhampered.

Based on a preliminary report from the BOC-Financial Service, ten of the seventeen collection districts exceeded their target for the month, led by Port of Aparri, followed by the Port of Tacloban, Port of Limay, Port of Zamboanga, Port of Cagayan de Oro, Port of Davao, Port of Clark, Port of Cebu, Port of Batangas, and Port of Subic.

The Customs bureau said it remains committed to maintaining border security measures against undervaluation, misdeclaration and other forms of technical smuggling and collecting lawful revenues.

In addition, the increase can also be attributed to the government’s effort in ensuring unhampered movement of goods domestically and internationally considering the pandemic situation.

In June, BOC also surpassed its P40.74 billion collection goal by 4.42 percent, with the bureau collecting P42.54 billion.

However, BOC’s collections as of end-June this year plummeted by 16.49 percent to P253.04 billion from P303.01 billion in the same period last year due to the steady decline in the volume of imports in the first five months of the year.

It also failed to hit its adjusted target of P254.25 billion for the first semester.

Topics: Bureau of Customs , collection target , coronavirus disease , community quarantine
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