Customs collections hit P330 billion

MANILA, Philippines — The Bureau of Customs (BOC) continued to exceed its target collection with the latest haul of P330 billion in revenues as of mid-May.

In a statement, the BOC said its total collections reached P330.27 billion as of May 13, four percent above the P317.87 billion target.

This is also a seven-percent jump from the January to mid-May 2023 collection of P308.65 billion.

The revenue as of mid-May is now 33 percent of the P1 trillion target for the year set by the Cabinet-level Development Budget Coordination Committee.

Over the past months, the BOC has been attributing its performance to heightened rate of assessment.

Customs Commissioner Bienvenido Rubio also committed its full support to the Department of Finance in ensuring efficient tax collection and enhancing border control measures.

BOC vowed to bolster border security by strengthened apprehensions and seizures of illegal items such as general merchandise, counterfeit goods, cigarettes and tobacco and illicit drugs discovered at various ports.

As the second largest revenue agency, the BOC is mandated to deliver financial resources to fund the government’s programs and projects.