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The Bureau of Customs collected revenues of P58.158 billion in January 2022
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The collection is 11.6% higher than the P52.123 billion target for the month
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14 out of 17 collection districts hit their January targets
The Bureau of Customs (BOC) collected revenues of P58.158 billion in January 2022, 11.6% higher than the P52.1230billion target for the month.
Based on BOC’s Financial Service report, 14 out of 17 collection districts surpassed their January targets: San Fernando, Port of Manila, Manila International Container Port, Batangas, Legazpi, Iloilo, Cebu, Surigao, Zamboanga, Davao, Subic, Clark, Aparri and Limay.
BOC attributed the positive performance to improved valuation, intensified enforcement against illegal importations, improved compliance by traders to customs laws, gradual improvement of importation volume, and government effort to ensure unhampered movement of goods domestically and internationally.
For full-year 2022, BOC is tasked to collect P679 billion, 10.1% higher than the P616.749-billion target for 2021 and 5.1% more than the P645.765-billion actual collection last year.
Customs Commissioner Rey Leonardo Guerrero earlier said BOC has also set a higher internal target of P699 billion as the agency is also required to collect additional revenues for value-added tax refund.
READ: BOC jacks up 2022 internal revenue target to P699B
Despite the pandemic, the customs bureau had been surpassing its annual revenue collection targets since 2020.
