The Bureau of Customs, the government's second-largest tax agency, exceeded its target in August due to efficient operations, increased trade activities, and strong revenue measures.

In a statement, Customs Commissioner Bienvenido Y. Rubio said the bureau collected P75.64 billion last month, five percent higher than the monthly goal of P72.27 billion.

The Customs revenue for August, however, was lower compared to the P78.9 billion collected in the same month last year, according to the Bureau of the Treasury.

The bureau's latest collection report brought its total for the first eight months to P582.13 billion, surpassing the target of P567.740 by 2.5 percent.

Compared to the same period last year, the August collections showed a four percent improvement from P558.45 billion.

“These achievements will fund essential government projects and services in the coming months, benefiting the Filipino people,” Customs said.

Meanwhile, over P31.118 billion worth of various smuggled goods, which was the highest in the last five years, was seized in 687 anti-smuggling operations, according to the agency.

Customs clinched the second spot among the Southeast Asian nations in trade facilitation, garnering a total Trade Facilitation score of 87.10 percent, based on the 2023 United Nations Global Survey.

Rubio said the revenue performance is demonstrated by the agency's commitment to fiscal responsibility and its role in contributing to the country's economic growth and stability.

“We will continue to monitor trade activities and implement measures to sustain this positive momentum in revenue collection, as part of the Bureau’s collaborative effort in further strengthening the nation's financial standing," Rubio said. (Xander Dave Ceballos)