(Infographics courtesy of BOC)
MANILA – The Bureau of Customs (BOC) has exceeded its revenue collection target by PHP3.192 billion in April.
Preliminary data released on Monday showed that the Bureau has collected a total of PHP80.822 billion, surpassing its collection goal of PHP77.630 billion.
Commissioner Bienvenido Rubio attributed the collection performance to several factors, notably its heightened rate of assessment. It also carried out trade facilitation initiatives through workshops, conferences, and international engagements.
The BOC's intensified efforts against smuggling have also led to significant seizures in the first quarter of 2024, he added.
"By diligently executing our duties, we aim to not only meet revenue targets but also to catalyze socio-economic development initiatives that positively impact the lives of our countrymen," Rubio said in a statement.
“We strive to create a brighter future for all Filipinos, ensuring that the benefits of our efforts are felt across communities,” the BOC chief added.
The BOC also achieved stellar performance for the first four months of 2024. From January to April, the BOC collected PHP 299.674 billion in revenue, surpassing its target collection of PHP288.526 billion by 3.86 percent.
The surplus amounts to PHP11.148 billion with an increase of 6.50 percent or PHP18.292 billion compared to the same period last year.
The revenue collected by the agency plays a crucial role in fueling social and economic development initiatives across the country. (PNA)
