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Customs revenue collection in February 2023 reached P63.02 billion, beating the bureau’s P61.83 billion target for the period by 1.9%
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BOC’s collection last month were 6% higher than its P59.43 billion take in February 2022
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For the first two months of the year, BOC collected P133.38 billion, 6.9% more than its P124.74 target for the period
The Bureau of Customs (BOC) beat its own target revenue take in February 2023, collecting P63.02 billion, which exceeded its P61.83 billion target for the period by 1.9%.
Last month’s revenue collection was 6% higher than the P59.43 billion take in February 2022, the agency said in a statement.
For the first two months of the year, BOC recorded P133.38 billion, 6.9% more than its target of P124.74 for the period.
“We will continue to innovate and implement sustainable reforms to boost the Bureau’s collection efficiency, which will contribute to the expansion and recovery of our national economy,” Customs Commissioner Bienvenido Rubio said.
“For this to be possible, we will also prioritize fostering a healthier trade environment through enhanced and modernized mechanisms for efficient trade facilitation and improved Customs operations for all our stakeholders,” Rubio added.
Rubio assumed his office on February 13, taking over from Acting Commissioner Yogi Filemon Ruiz.
For 2023, BOC has been tasked to collect P901.3 billion, up from the P721 billion target last year and the P862.93 billion actual collection, the highest annual collection to date.
BOC reported its highest annual collection of P862.93 billion in 2022, which exceeded its P721.52 billion target by 19.6%.
The revenue collection last year was also 34.1% higher than the P643.56-billion take generated in 2021, BOC said in a statement.
In January thi year, the bureau beat its collection target by 11.79% with a take of P70.33 billion, versus its goal of P62.911 billion. The January figure was also 20.53% higher than the P58.346 billion posted in January last year.
