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Manila Bulletin devider Business devider BOC surpasses first-quarter collection target by 4%

BOC surpasses first-quarter collection target by 4%

Published Apr 18, 2024 06:04 am

The Bureau of Customs (BOC), the government's second-largest tax agency, has exceeded its collection target in the first quarter, driven by improved trade processes and stricter border security measures.

Customs Commissioner Bienvenido Y. Rubio said the agency gathered P219.38 billion from January to March 2024, surpassing its target of P210.89 billion for the period by four percent. 

Rubio said that the BOC achieved its goal by leveraging initiatives such as the Prior Disclosure Program and other audit discoveries, resulting in additional revenues of P1.088 billion and P89.071 million, respectively. 

Additionally, approximately P3.890 million was generated through public auctions, the Customs chief said.

Furthermore, Rubio said that the BOC’s heightened crackdown on smuggling resulted in the confiscation of smuggled goods valued at P18.11 billion in the first three months.

Significantly, the BOC marked 4.81 billion liters of fuel and raised P61.1 billion in duties and taxes that deterred illicit trade and fraudulent activities.

Moreover, the BOC revoked the accreditation of 11 importers and three customs brokers, as well as pursued legal action by filing 16 criminal charges against dishonest stakeholders involved in illicit activities.

In addition to the improved collection performance, Rubio said the BOC's strides in modernizing customs procedures. 

During the first quarter, the BOC initiated the pilot phase of the e-Travel Customs System and introduced the Electronic Customs Baggage and Currency Declaration Form in nine international airports across the country.

Furthermore, the BOC established the Customs Industry Consultative and Advisory Council to facilitate productive engagements between the bureau and the business community. 

Rubio said this council aims to address customs-related issues and industry concerns efficiently through constructive dialogues and collaboration.

Related Tags

Customs Commissioner Bureau of Customs (BoC) Bienvenido Y. Rubio
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