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  • Writer's pictureBy The Financial District

BOC Collects ₱813.6-B, Up 2.2%

The Bureau of Customs (BOC) reported a record-high collection of P813.651 billion in the first 11 months of the current year, with P75.338 billion collected in November alone.


BOC Commissioner Bienvenido Rubio attributed the significant increase in revenue collection to the bureau's digitalization initiatives, which streamlined procedures and reduced processing time in import and export transactions. I Photo: Bureau of Customs PH Facebook



This surpasses the revenue target for the period, set at P795.966 billion, resulting in a revenue surplus of P17.685 billion or 2.2%.


The November collection also exceeded the assigned target for the month by 1.5%, representing a revenue surplus of P1.089 billion. These figures are based on the initial report from the BOC's Financial Service.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

For the entire year, the overall revenue showed a 3.09% increase, equivalent to P24.405 billion compared to the previous year's collection of P789.246 billion.


BOC Commissioner Bienvenido Rubio attributed the significant increase in revenue collection to the bureau's digitalization initiatives, which streamlined procedures and reduced processing time in import and export transactions.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

He also credited heightened border control and security measures aimed at combating illicit trade and customs fraud for contributing to the improved revenue collection performance.




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