Bureau of Customs Surpasses Target With PHP2.1 Billion Collection Surplus In May

The Bureau of Customs (BOC) exceeded its collection target for the fifth consecutive month in May 2024, collecting PHP81.753 billion, 2.68% above the target of PHP79.621 billion.

Customs' performance was attributed to diligent monitoring of import values and classifications, effective audits, public auctions, intensified border control, and improved trade facilitation. I Photo: Bureau of Customs PH Facebook

This resulted in a surplus of PHP2.132 billion.

Commissioner Bienvenido Y. Rubio reported that the BOC’s cumulative collection from January to May 2024 reached PHP381.347 billion, surpassing the target of PHP366.047 billion, marking a 6.13% increase over the same period in 2023.

Rubio attributed this performance to diligent monitoring of import values and classifications, effective audits, public auctions, intensified border control, and improved trade facilitation.

These efforts not only enhanced tax collection but also deterred smuggling and illegal activities.

He stressed the importance of BOC’s revenue collection in funding government programs and projects, contributing to the country's economic growth. Rubio expressed gratitude to the BOC personnel for their dedication and emphasized their ongoing commitment to maintaining this positive momentum.