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Manila Bulletin devider Philippines devider National devider BOC surpasses June collection goal by over P5B

BOC surpasses June collection goal by over P5B

Published Jul 1, 2021 06:19 pm

The Bureau of Customs (BOC) has surpassed its revenue collection goal for June 2021 by over P5 billion after posting an actual collection of P52.447 billion, the agency said Thursday, July 1.

Bureau of Customs (BOC) Commissioner Rey Leonardo Guerrero (Photo courtesy of the BOC)

The bureau recorded a P5.272-billion surplus from the collection, which is 11.2 percent higher than the P47.175-billion target for the month.

According to the BOC Financial Service, the agency's take this past June includes additional revenues from the Tax Expenditure Fund (TEF) collection of P157.06 million, and Post Clearance Audit Group (PCAG) collection of P148.73 million.

The BOC noted that their latest feat marks the sixth consecutive month that the bureau went over its collections target.

The BOC has already collected P302.744 billion since January 2021, surpassing its midyear collection target of P291.833 billion by 3.7 percent or P10.911 billion.

"Notably, BOC's midyear collection this year is also higher by 19.60 percent or P49.653 billion than the P253.091 billion midyear collection in 2020," Customs Commissioner Rey Leonardo Guerrero said.

The commissioner attributed the improved valuation of the bureau to its digitized and modernized systems, the gradually improving economy resulting to higher volume of importations, and the intensified collection efforts of all districts.

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70121 revenue collection BOC JUNE 2021
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