The Bureau of Customs (BOC), the government’s second-largest tax agency, said it had surpassed its target for the first 10 months of the year, driven by stricter enforcement and increased tax collections.

In a statement on Monday, Nov. 11, Customs Commissioner Bienvenido Y. Rubio said the agency recorded a preliminary actual collection performance of P784.54 billion from January to October, a six percent increase compared to the same period last year. 

This represents an additional P44.445 billion over the P740.095 billion collected in 2023. 

The cumulative collection exceeded the Development Budget Coordination Committee’s target of P779.990 billion by 0.6 percent, achieving a surplus of P4.550 billion.

Rubio attributed the strong performance to rigorous verification of imported goods' values and classifications, contributions from the value-added tax refund program, and the strict fuel marking initiative. 

“We are resolute with our commitment in strengthening our collection capabilities and promoting fiscal growth,” Rubio said. “Our efforts are directed toward driving sustainable development and advancing our nation’s economic resilience.”

In October 2024 alone, the BOC collected P89.502 billion, surpassing its target of P86.102 billion by 3.9 percent. 

The agency also noted that P3.35 billion was collected from tax credit certificates, significantly boosting overall revenue. Enhanced partnerships with other government agencies played a key role, as well as streamlining procedures and supporting secure trade facilitation, the BOC added.