MANILA, Philippines — The Bureau of Customs (BOC) continued its streak of exceeding its target collection with a haul of more than P80 billion in April.
Data showed that customs collections reached P80.82 billion in April, surpassing by four percent its P77.63 billion target.
This is also a 20-percent jump from the April 2023 collection of P67.55 billion.
For the four-month period, customs revenues have reached P299.67 billion, 6.5 percent higher than the P281.38 billion it generated in the same period in 2023.
Likewise, it is almost four percent above the target of P288.53 billion for the four-month period.
The revenue as of end-April is now 30 percent of the P1 trillion target for the year set by the Cabinet-level Development Budget Coordination Committee.
Customs Commissioner Bienvenido Rubio attributed the agency’s collection performance to the agency’s heightened rate of assessment.
Rubio said the BOC has been achieving milestones in meeting its revenue goals and implementing digital Customs procedures.
BOC has carried out trade facilitation initiatives and intensified its efforts against smuggling.
“We aim to not only meet revenue targets, but also to catalyze socio-economic development initiatives,” Rubio said.
As the second largest revenue agency, the BOC is mandated to deliver financial resources to fund the government’s programs and projects.