BOC collects P78.902 billion, beats August target by P20B

The Bureau of Customs (BOC) surpassed its target collection for the 8th consecutive time this year.

Acting on instructions of Commissioner Yogi Filemon Ruiz to plug revenue leakages, the BOC accumulated P78.9B in August based on a preliminary report from Financial Service. This means P20B. or 34.1% more than its target collection of P58.8 for the month.

The generated revenue of P78.9B includes the P77.9B collection from all collection districts of the Bureau, P248.2M from the Post Clearance Audit Group (PCAG), and P677.4M from the Tax Expenditure Fund (TEF).

All 17 Ports surpassed their targets and cumulatively achieved a P15.8B or 25% surplus through intensified collection efforts under the present leadership.

Moreover, the consistently improving performance of the Bureau manifests the BOC’s sustained reform efforts. From January to August 2022, the BOC garnered a total revenue of P559.2B. This is P146.9B or 35.6% higher than the P412B actual collection from the same timeline in 2021.

The collection performance of the BOC and its 17 Collection Districts is attributed to the intensified collection efforts, streamlined, digitized, and modernized systems and the improving economy resulting in higher volume of imports.