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Manila Bulletin devider Business devider Customs surpasses October collection goal

Customs surpasses October collection goal

Published Nov 3, 2023 08:10 am

At A Glance

  • - The Bureau of Customs (BOC) exceeded its collection target for October this year, raising P78.61 billion. This surpassed the P77.53 billion goal by 1.4 percent.<br>The increase in revenue collection was attributed to the bureau's efforts against smuggling and the implementation of trade efficiency measures.<br>The agency's 10-month total collections reached P739 billion, which is 2.4 percent higher than the target of P721.78 billion.<br>Compared to the same period last year, the end-October total collections increased by 3.6 percent from P713.52 billion.<br>Customs Commissioner Bienvenido Y. Rubio stated that they are doubling their efforts to provide financial resources for the government's programs and projects.<br>The bureau signed a Memorandum of Agreement with Philippine Postal Corp. on October 18 to enhance trade facilitation and simplify customs procedures.

The Bureau of Customs (BOC), the government’s second largest tax agency, exceeded anew its collection target for October this year.

In a statement, Customs Commissioner Bienvenido Y. Rubio said the bureau collected P78.61 billion last month, above by 1.4 percent against the P77.53 billion goal for the month.

“Our relentless drive against smuggling and the implementation of trade efficiency measures significantly contributed to the increase in revenue collection,” Rubio said on Friday, Nov. 3.

The October tax haul brought the agency’s 10-month tally to P739 billon, 2.4 percent higher compared to the P721.78 billion target.

The end-October total collections also increased by 3.6 percent from P713.52 billion in the same period last year.

“We are doubling our efforts to provide financial resources to support the government's programs and projects,” Rubio said.

Last Oct. 18, Customs further boosted its trade facilitation efforts with the signing of a Memorandum of Agreement with Philippine Postal Corp. aimed at expediting clearances, enhancing security controls, and simplifying customs procedures.

Rubio said the remarkable feat demonstrates the bureau’s dedication to excellence, reinforcing its mandate to increase revenue collection and enhance trade facilitation in support of the country's economic development.

Customs is also ramping up its digitalization efforts by developing new systems and modern facilities to further streamline procedures and reduce processing times in import and export transactions.

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Bureau of Customs Customs Commissioner Bienvenido Y. Rubio
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