BOC Confident Of Hitting ₱1 Trillion 2024 Collection Target

The Bureau of Customs (BOC) has expressed confidence in achieving its target PHP1 trillion collection for 2024, citing the agency’s efficient revenue collection efforts.

The BOC has recorded a total of 980 successful seizure operations with a total monetary value of P43.3 billion, marking the highest number of seizures in the BOC's record. I Photo: Bureau of Customs PH Facebook

"At this point in the year, since January, we have collected P106 billion, which is ahead of target, indicating that we are on the right track," stated BOC Deputy Commissioner Michael Fermin during the Saturday News Forum in Quezon City.

Fermin emphasized, "We have been efficiently collecting revenues, especially with the higher target set by the DBCC for this year."

The DBCC (Development Budget Coordination Committee) is the inter-agency body under the National Economic and Development Authority (NEDA) responsible for setting the government’s macroeconomic assumptions.

Fermin highlighted the agency’s ongoing efforts, including border control and protection, trade facilitation, and filing cases against erring individuals and companies.

He reported that the BOC has recorded a total of 980 successful seizure operations with a total monetary value of P43.3 billion, marking the highest number of seizures in the BOC's record.

"More than 50 percent of the seizures are counterfeit goods, followed by illegal drugs worth P7 billion, and agricultural products and other general merchandise," Fermin added.

"For last year alone, we filed 90 criminal cases before the Department of Justice, 60 of which were related to agricultural smuggling. This year, we have filed another 13 cases before the DOJ," he further noted.

Regarding trade facilitation, aligned with President Ferdinand R. Marcos Jr.'s directive for full digitalization, Fermin mentioned that the BOC has complied with 97 percent of the bureau’s core processes.

He also highlighted the implementation of systems such as the eTravel system, aimed at bringing more convenience to the public.

Reflecting on the BOC’s achievements in the previous year, Fermin stated that the agency collected PhP883.62 billion in 2023, surpassing the PhP874 billion target collection for that year, resulting in a surplus of about PhP9.45 billion.

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