THE Customs bureau said its revenue collections from January to October expanded by 37 percent on an annual basis to P714.3 billion due to measures curbing revenue leakages and smuggling.
The Bureau of Customs (BOC) said its revenue collections during the 10-month period was P188.9-billion higher than the P525.4 billion it collected in the same period of last year.
With the double-digit growth rate, the BOC said it has surpassed by P111.5 billion its P602.8 billion revenue target for the reference period.
The bureau attributed its higher revenue performance to measures that allegedly addressed the perennial problems it faced such as revenue leakages and corruption.
“The BOC continues to implement measures against revenue leakages, corruption and smuggling while easing process bottlenecks,” the statement it released last Wednesday read.
In October alone, the BOC generated P75.5 billion in revenues, which was nearly 35 percent higher than the P56 billion it collected in the same month of last year. The bureau also exceeded its revenue collection target in October of P63.7 billion.
The statement credits the Bureau’s “modernization programs and process innovations to sustain outstanding performance and improve services to stakeholders.”
The BOC has been tasked to collect P721.5 billion this year. Ruiz earlier expressed confidence the agency is on track to hit its higher internal collection goal of P740 billion.
Apart from increasing revenue generation, BOC Commissioner Yogi Filemon Ruiz earlier disclosed he was ordered to eliminate the smuggling of illegal drugs, firearms and agricultural products as well as full automation and digitalization of Customs processes. (Related story: https://businessmirror.com.ph/2022/09/05/customs-bureau-rakes-in-%E2%82%A778-9b-on-rising-imports/)
The BOC’s digitalization rate now stands at 91.18 percent wherein 155 out of its total 170 processes have been digitized.
The Bureau said its management information system and technology group is currently working on the development of other systems “to further strengthen border control, enhance trade facilitation and improve collection of lawful revenues.”