2020 collection target surpassed by 6.6% but revenue is 14.4% lower than the 2019 collection
10 of 17 collection districts exceeded annual collection targets
BOC exceeded monthly target by 9.1% in December alone, the seventh consecutive month it hit its monthly goal
The Bureau of Customs (BOC) collected P539.660 billion in revenues in 2020, surpassing its annual target of P506.150 billion by 6.6%.
The 2020 revenue was, however, 14.4% lower than the P630.571 billion collected in 2019.
Based on preliminary data from BOC’s Financial Service, 10 of the 17 collection districts exceeded their annual collection targets: Cebu, Tacloban, Surigao, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri, and Limay.
For December alone, BOC recorded P47.316-billion revenue, 9.1% higher than the P43.368 billion target for the month. BOC in a statement said it is also its seventh consecutive month in 2020 of exceeding its monthly goal.
The bureau attributes its positive revenue collection performance to improved valuation and intensified collection efforts of all collection districts, gradual improvement of importation volume, and to ensuring unhampered movement of goods amid the pandemic.
The 2020 collection target was 30.8% lower than the original target of P731 billion and by 6.6% from the revised target of P541.703 billion set last May. The lower revenue target was in view of the adverse impact of the coronavirus disease pandemic on the Philippine economy.