BOC targets up to P1T collections for 2023

BOC targets up to P1T collections for 2023
  • The Bureau of Customs is targeting up to P1 trillion collections for 2023
  • This is an upgrade from the earlier target of 3 billion

The Bureau of Customs (BOC) targets up to P1 trillion in collections this year, according to spokesperson Atty Vincent Philip Maronilla during the Bagong Pilipinas Ngayon briefing on November 6.

The earlier target was P901.3 billion. Actual collections in 2022 hit P862.929 billion, the agency’s highest annual collection to date.

“For this year, we are aiming to contribute, hopefully, about P900 billion to about P1 trillion, if possible, from our revenue surplus,” Maronilla said.

In addition to BOC’s contributions, the government relies on revenues from the Bureau of Internal Revenue and other revenue collection agencies to meet its financial requirements.

Maronilla highlighted BOC’s performance, in particular noting seized smuggled items with an estimated value of P40 billion. “This is the highest value and largest number of smuggled goods that the Bureau of Customs has apprehended in its history,” he said.

He attributed the success to combined efforts of the BOC leadership, who employed effective intelligence and enforcement methods.

RELATED READ: BOC exceeds Oct revenue target by 1.4%