THE Bureau of Customs (BOC) said it was able to collect a total of P84.424 billion in July with a 38.9-percent surplus.
The bureau said this will be its highest monthly collection in history, where it surpassed its target collection of P60.785 billion by P23.639 billion or 38.9 percent based on a preliminary report from the BOC Financial Service.
Included as additional revenue is the collection by the Tax Expenditure Fund (TEF) of P1.128 billion, and collection by the Post Clearance Audit Group (PCAG) worth P527.65 million for the same month.
Moreover, the BOC and its Collection Districts continue to show positive performance in terms of collection.
As of now, the BOC was able to collect P481.139 billion starting January 1, which overshot the consolidated target of P388.597 billion by P92.542 billion or 23.8 percent.
Also included in the consolidated collection are additional revenues from the TEF collection worth P2.563 billion and collection by the PCAG of P1.366 billion.
It is also noted that the BOC’s collection from January up to July of this year was higher by 34.1 percent or P122.224 billion compared to the P358.915 billion collection in the same period last year.
The collection performance by the BOC and its 17 Collection Districts is due to its more efficient valuation, its digitized and modernized systems, the slow but sure economic recovery that resulted in higher importation, and intensified collection efforts in all the BOC’s districts around the country.