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The Bureau of Customs exceeded its collection target for August 2023 by 4.7% but fell short by 4.1% when compared to August 2022 actual collection
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August 2023 collection reached P75.642 billion
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From January to August 2023, BOC surpassed its target by 2.54% and actual collection by 4.24%
The Bureau of Customs (BOC) exceeded its collection target for August 2023 by 4.7% but fell short by 4.1% when compared to actual August 2022 collection, the agency said in a statement.
August 2023 revenue reached P75.642 billion against the goal of P72.275 billion set by the Development Budget Coordination Committee. The latest figure is, however, down from the actual collection of P78.9 billion in August 2022.
From January to August 2023, BOC generated P582.133 billion, also surpassing the target of P567.740 billion by 2.54%, and year-on-year collection of P558.455 billion by 4.24%.
The revenue-generating agency said its collection performance may be attributed to “efficient customs operations, enhanced trade activities, and robust revenue collection measures implemented under Commissioner Bienvenido Y. Rubio’s leadership.”
“We will continue to monitor trade activities and implement measures to sustain this positive momentum in revenue collection, as part of the Bureau’s collaborative effort in further strengthening the nation’s financial standing,” Rubio said.
For the first eight months of the year, BOC said it has conducted 687 anti-smuggling operations resulting in P31.118 billion worth of various smuggled goods, the highest annually in the last five years.
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