Thursday, December 9, 2021
HomeBreaking NewsBOC surpasses May collection target by 6.6%

BOC surpasses May collection target by 6.6%

  • The Bureau of Customs collected P49.334 billion in May 2021, exceeding its monthly target by 6.6%
  • The latest figure includes P50.16 million from the Tax Expenditure Fund and P86.26 million from the Post Clearance Audit Group
  • Of the 17 collection districts, 12 exceeded their goal for May
  • From January to date, BOC has taken in P249.793 billion or 40.50% of its 2021 target

The Bureau of Customs (BOC) surpassed its monthly collection target in May by 6.6%, the fifth month in a row it has hit its goal.

In a statement, the agency said it collected P49.334 billion in May, ahead of its P46.276-billion target.

Based on BOC’s Financial Service preliminary report, the latest collection includes additional revenues from the Tax Expenditure Fund of P50.16 million and from the Post Clearance Audit Group of P86.26 million.

Of the 17 collection districts, 12 exceeded their monthly target: San Fernando, Port of Manila, Manila International Container Port, Batangas, Legazpi, Iloilo, Tacloban, Surigao, Cagayan de Oro, Davao, Subic and Clark.

BOC attributes the positive performance to “improved valuation and volume of importations, and the intensified collective efforts of all the ports to prevent revenue leakages and collect all lawful revenues.”

From January to date, BOC has collected P249.793 billion or 40.50% of its 2021 target collection of P616.749 billion.

The 2021 revenue target is 22% higher than the 2020 revised target of P506.150 billion and 14% up from the P539.660 billion actual collection recorded last year.

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