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BOC exceeds May collection target by 20.8%
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The Bureau of Customs took in P68.245 billion in May, surpassing its P56.478-billion monthly target by 20.8%
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This is the fifth straight month this year the agency has surpassed its monthly target
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15 of the 17 collection districts exceeded their May revenue goal
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From January to date, BOC has collected P322.472 billion, reflecting 47.5% of the 2022 annual target collection of P679.226 billion
The Bureau of Customs (BOC) has collected P68.245 billion in May, surpassing by 20.8% its P56.478-billion target for the month, the agency said in a statement.
Based on the preliminary report from BOC’s Financial Service, 15 of the 17 collection districts exceeded their May target: Aparri, Batangas, Cagayan De Oro, Cebu, Clark, Davao, Iloilo, Legazpi, Limay, Manila, Manila International Container Port, San Fernando, Subic, Tacloban, and Zamboanga.
This is the fifth straight month this year that the agency has surpassed its monthly revenue collection target.
From January to date, BOC has collected P322.472 billion, reflecting 47.5% of the 2022 annual target collection of P679.226 billion.
BOC attributes its positive collection performance to improved valuation, intensified collection efforts, measures preventing revenue leakage, and the recovering economy of the country.
For 2022, the agency’s annual target is P679.226 billion, 10.1% higher than the P616.749 billion target for 2021and 5.1% up from 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 they are also required to collect additional revenues for value-added tax refund.
