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Revenue collections by the Bureau of Customs have surpassed by 3.32% its 2022 target of P721.52 billion with a total take of P745.50 billion as of November 11
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All 17 collection districts have also bested their respective collection targets for the year, garnering a surplus of 16.8% or P103.29 billion as of October 31
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This year’s revenue collection is the BOC’s highest in its history
The Bureau of Customs (BOC) beat its 2022 collection target of P721.52 billion by 3.32% with more than a month to go before the year ends.
As of November 11, the BOC take is P745.50 billion. The target collection for November is P59.338 billion and for December, P59.392 billion.
Based on preliminary report, all 17 collection districts have also reached their respective targets for the year, garnering a 16.8% surplus or P103.29 billion as of October 31, BOC said in a statement.
BOC said this year’s revenue collections are historically the agency’s highest to date.
The bureau attributed the record take to its stringent implementation of priority programs to curb smuggling and corruption, optimize revenue collections, and digitalize and enhance customs operations.
Acting Customs Commissioner Yogi Filemon Ruiz, on instructions from President Ferdinand Marcos Jr., has ordered the streamlining of customs processes to ease bottlenecks and promote local and international investments and efficient trade facilitation while preventing revenue leakages by tightening border security measures, BOC added.
Ruiz had said earlier that he was confident BOC would surpass its full-year target by as much as 30%.
BOC has been surpassing its monthly revenue targets this year, even posting its highest monthly collection to date of P84.424 billion in July.
