BOC exceeds May revenue target P11-B

The Bureau of Customs (BOC) revenue collection for May this year was recorded at P68.24 billion, exceeding by 20.8% its P56.47 billion target for the month by P11.76 billion.

The BOC Financial Service said 15 of their 17 collection districts have exceeded their targets for May – the ports of San Fernando, Manila, Batangas, Legaspi, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri, and Limay, as well as the Manila International Container Port.

Since January this year, the BOC collected P322.47 billion or   47.5% of its 2022 annual target collection of P679.22 billion. The agency has attributed its positive performance this year to improved valuation, intensified collection efforts, measures preventing revenue leakage, and the country’s recovering economy.

Despite its satisfactory performance, the BOC said it has kept its border security measures against undervaluation, misdeclaration, and other forms of technical smuggling, and collected lawful revenues.

BOC Commissioner Rey Leonardo Guerrero has commended the efforts of all their agency’s personnel who have shown their unwavering commitment and dedication to service by risking their health and safety, given the Covid-19 pandemic threats.