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Manila Bulletin devider Philippines devider National devider BOC sets record as it achieves P862.9-B revenue collection for 2022

BOC sets record as it achieves P862.9-B revenue collection for 2022

Published Jan 14, 2023 10:33 am

The Bureau of Customs (BOC) has achieved a P862.929 billion revenue collection for 2022, which it said, did not only exceed its tax collection for the year but also set the agency's record that all ports exceeded their annual collection targets.

"It was the first time in the BOC history that all ports exceeded their annual collection targets per the BOC Financial Service," the BOC said in a statement.

Based on the BOC data, the target collection for 2022 is P721.52 billion but as of early November, the target collection was already achieved.

As of Jan. 1, it said the revenue collection for 2022 is 19.6 percent higher than the target, or translated to P141.409 billion.

"The 2022 revenue collection performance showed an increase of 34.1% or P219.367 billion compared to the P643.562 billion revenue collection in 2021," the statement read.

BOC Commissioner Yogi Filemon Ruiz said the Post-clearance Audit Group (PCAG) collected P1.840 billion in deficient Customs duties, taxes, penalties, and interests as part of the 2022 BOC revenue collection, surpassing its 2021 collection of P1.522 billion by 21 percent and its target collection of P1.584 billion by 16 percent.

The Group bolstered the BOC Post Clearance Audit and Post Modification through the Computer-Aided Risk Management System (CARMS), which was implemented in August 2022. The system provides critical information for traders to measure and improve Customs compliance.

Ruiz also disclosed that the BOC raised P292 million from public auctions of overstaying cargoes.

"The public auction of seized, forfeited, or abandoned containers generated additional revenues for the government and decongested the ports of the Bureau for more efficient trade facilitation," said Ruiz.

"The additional revenues included the P22.8 billion rice tariff collection of the BOC. The Rice Tariffication Law helps consumers and farmers by lowering the retail prices of rice and providing assistance to farmers through excess tariff revenues," he added.

Ruiz has warned unscrupulous individuals against smuggling, and other forms of Customs fraud as the Bureau pursues to heighten its border protection efforts to combat revenue leakages and increase the collection of lawful revenues for the Philippine government.

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