BOC Jan to May 13 collection climbs to P330.27B

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BOC Jan to May 13 collection climbs to P330.27B
  • The Bureau of Customs collected P330.27 billion from January to May 13, 2024, exceeding its target of P317.87 billion by 3.90%
  • BOC reported 132 apprehensions were conducted in the first quarter of this year, resulting in seizures worth approximately P28.02 billion
  • The agency marked a total of 7.01 billion liters of fuel so far this year, and collected P908.52 billion in duties and taxes from fuel imports

The Bureau of Customs (BOC) collected P330.27 billion from January to May 13, 2024, exceeding its target of P317.87 billion by 3.90%.

The figure also represents a 7% increase from the P308.65 billion collected in the same period last year, BOC said in a recent report to its mother agency, the Department of Finance.

BOC reported 132 apprehensions in the first quarter of this year, resulting in seizures worth approximately P28.02 billion.

These seizures included general merchandise, counterfeit goods, cigarettes/tobacco, and various illegal drugs uncovered at different ports.

In addition, BOC marked a total of 7.01 billion liters of fuel so far this year. From 2019 to May 9, BOC took in P908.52 billion in duties and taxes from fuel imports.

Fuel marking—which started implementation in September 2019—aims to curb oil smuggling and plug revenue losses arising from the illegal importation or misdeclaration of petroleum products.

“The BOC remains committed to contributing to DOF’s goal of fostering national socio-economic growth by collecting additional revenue for our fellow Filipino people and guarding the country’s borders,” said Customs Commissioner Bienvenido Rubio.

READ: BOC exceeds March collection target by 3.45%