BOC Aug revenue surpasses target by 1.8%

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  • The Bureau of Customs exceeded its revenue target for August by 1.86%
  • BOC collected P54.050 billion against its goal of P53.061 billion
  • Six of the 17 collection districts hit their August targets
  • For the January to August period, BOC took in P412.964 billion, 67% of the P616.749 billion target for the entire 2021

The Bureau of Customs (BOC) collected P54.050 billion of revenues in August 2021, exceeding its P53.061-billion target for the month by 1.86%, the eighth straight month it has surpassed its target.

In a statement, BOC said it has exceeded its monthly revenue collection targets since January despite challenges faced from the COVID-19 pandemic.

Based on BOC’s Financial Service preliminary report, six of the 17 collection districts hit their August targets: San Fernando, Port of Manila, Surigao, Davao, Clark and Limay.

For the January to August period, BOC took in P412.964 billion, 67% of the P616.749-billion target for the whole year.

The agency’s entire 2021 revenue target is 22% higher than its 2020 revised target of P506.150 billion and 14% more than last year’s P539.687 billion actual collection.

BOC attributes the positive performance to improved valuation and volume of importations, and the intensified collective efforts of all collection districts to prevent revenue leakages and collect all lawful revenues.