Bureau of Customs (BOC) | FILE PHOTO
MANILA, Philippines — The Bureau of Customs (BOC) on Monday (May 6) announced that it has surpassed its target revenue for April by more than P3.1 billion.
According to the BOC in a statement, initial reports showed that the agency has collected a total of P80.822 billion, breaching its P77.630 billion April target revenue.
With the April figure, total revenue since January 2024 now sits at P299.674 billion, with surplus revenue reaching P11.148 billion.
This, said the BOC, marked an increase of 6.50 percent or P18.292 billion, from its collection in the same period in 2023.
“The BOC attributes its exceptional collection performance to several factors, notably its heightened rate of assessment,” the BOC said in the statement.
“The revenue collected by the agency plays a crucial role in fueling social and economic development initiatives across the country,” it added.
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Customs Commissioner Bienvenido Rubio said the public can rest assured that the agency will maintain the momentum, aiming not to just meet revenue targets but to also “catalyze socio-economic development initiatives.”