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BOC posts highest collection of ₧70.7B in March

THE Bureau of Customs (BOC) has achieved nearly a third of its collection target this year as it recorded its highest collection in history last March.

The BOC said in the first quarter of the year, its collections reached P188.506 billion, 27.8 percent of the P679.23-billion target this year.

In March alone, the BOC recorded its highest monthly collection in history with P70.727 billion. This was 22.6 percent higher or P13.037 billion more than its target for the month pegged at P57.69 billion this year.

“The bureau consistently met and exceeded its monthly revenue collection target since January this year,” BOC said. “Based on the preliminary report from the BOC-Financial Service, 14 of the 17 Collection Districts hit their target.”

These collection districts, the BOC said, were the ports of San Fernando, Port of Manila, MICP, NAIA, Batangas, Iloilo, Cebu, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri and Limay.

“The BOC’s positive revenue collection performance is attributed to the improving volume of importation in the country, the improved valuation, and the intensified collective efforts of all the collection districts,” the BOC said.

By the end of 2021, BOC collected a total of P645.77 billion in revenues, higher than the pre-pandemic collection of P630.31 billion in 2019.

Based on the preliminary report from the Revenue Collection Monitoring Group (RCMG), BOC surpassed its annual collection target for 2021 by 4.7 percent or P29.016 billion, collecting a total of P645.765 billion against its target of P616.749 billion. This is higher than the pre-pandemic collection of P630.31 billion in 2019.

The BOC’s positive revenue collection performance last year was attributed to the improved valuation, intensified enforcement operations against illegal importations, and improved compliance by traders to customs laws.

The agency also saw the gradual improvement of importation volume and the government ensured the unhampered movement of goods domestically and internationally.

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