THE Bureau of Customs (BOC) announced that it has exceeded its collection target for August 2023 by 4.7 percent after collecting a total of P75.642 billion.
The amount thus surpassed the official P72.275-billion target set by the Development Budget Coordination Committee (DBCC) by about P3.367 billion.
In terms of revenue, the BOC collected a total of P582.13 billion from January to August 2023, which eclipsed the P567.74 billion target by 2.54 percent, or around P14.393 billion.
This year’s revenue grew by 4.24 percent or P23.678 billion compared to the previous year’s P558.455 billion collection for the same period.
The agency attributed these good results in collection to efficient customs operations, enhanced trade activities, and robust revenue collection measures, says Commissioner Bienvenido Rubio.
The BOC chief likewise thanked and commended the Bureau’s dedicated personnel for this milestone and lauded the agency’s commitment to fiscal responsibility and its role in contributing to the country’s economic growth and stability.
“These achievements will fund essential government projects and services in the coming months, benefiting the Filipino people,” Rubio said.
“We will continue to monitor trade activities and implement measures to sustain this positive momentum in revenue collection, as part of the Bureau’s collaborative effort in further strengthening the nation’s financial standing,” he added.
The BOC, Rubio said, has also successfully conducted 687 anti-smuggling operations that resulted in the seizure of around P31.118 billion worth of various smuggled goods, the highest in the last five years.
Similarly, the BOC secured the second spot among Southeast Asian nations in terms of trade facilitation in the 2023 United Nations Global Survey, with an impressive total Trade Facilitation score of 87.10 percent.
These milestones underscore the Bureau’s vital role in bolstering the nation’s financial stability and promoting efficient trade practices, Rubio said.