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HomeCustoms & TradeBOC exceeds June collection target by 11.2%

BOC exceeds June collection target by 11.2%

  • The Bureau of Customs surpassed its collection target in June by 11.2%
  • This is the sixth consecutive month the BOC exceeded its goal
  • For January to June, BOC took in P302.744 billion, 3.7% more than its P291.833-billion target

The Bureau of Customs (BOC) surpassed its June collection target by 11.2%, the sixth consecutive month it has done so.

The agency took in P52.447 billion in June 2021 against its target of P47.175 billion, according to preliminary report from BOC’s Financial Service.

The June collection includes additional revenues from the Tax Expenditure Fund of P157.06 million and from the Post Clearance Audit Group of P148.73 million, BOC said in a statement.

For the period covering January to June, BOC collected P302.744 billion, exceeding its P291.833-billion target by 3.7%.

The first-half revenue is also 19.6% higher than P253.091 billion posted year-on-year.

BOC attributed the positive performance to “improved valuation… digitized and modernized systems, the gradually improving economy resulting in higher volume of importations, and the intensified collection efforts of all districts.”

BOC’s revenue target this year is P616.749 billion.

The goal is 22% more than the 2020 target of P506.150 billion and 14% higher than the P539.660-billion actual collection.

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