BOC overshoots 2022 target with P790.3B collection as of Nov

The Bureau of Customs (BOC) continued its record-breaking streak for this year as the agency logged a new annual collection milestone, collecting a total of P790.301 billion from January to November.

The government revenue-generating body said it recorded P76.770 billion in November, which was P16.176 billion or 26.7 percent higher than its target of P60.603 billion for the month.

The 11-month collection performance also exceeded the 2022 full-year goal  of P721.52 billion, indicating that it was already 9.5 percent – or P68.781 billion – above its mark.

The collected revenue  so far this year also exceeded that of pre-pandemic level, which was ₱630.31 billion back in 2019.

Last year, the BOC’s collection stood at ₱645.765 billion, while its 2020 collection amounted to ₱539.660 billion.

The attached agency of the Department of Finance (DOF) said that all 17 collection districts of the agency also achieved their cumulative revenue targets for 11 months.

President Ferdinand Marcos Jr. has ordered Customs Commissioner Yogi Filemon Ruiz to prioritize boosting revenue collection, curbing smuggling, and streamlining the agency’s processes.

Various government agencies have announced a lineup of streamlining measures involving the BOC this year, including that with the Philippine Economic Zone Authority (Peza), where both government agencies integrated their logistics and supply chain management platforms.

Peza officer-in-charge and Deputy Director General for Policy and Planning Tereso Panga said back in September that it was the result of a recent meeting with customs officials to build on their partnership in the field of logistics efficiency and supply chain management.

Panga said they have integrated Peza’s EIPS (Electronic Import Permit System) and AEDS (Automated Export Documentation System) to the BOC system for increased security and transparency in the processing and monitoring of import and export permits and other documents

The Anti-Red Tape Authority (ARTA) also announced last Nov. 15 that the government’s online one-stop shop for processing import and export permits, TradeNet, would be strengthened, with an agreement on this initiative set to be signed between two key government agencies this month.

Amid the streamlining of the government’s processes, Finance Secretary Benjamin Diokno expressed confidence that the BOC’s revenue surplus would help cover the shortfall of other national revenue-generating agencies.

Diokno is optimistic that the government would reach its collection goal with the BOC’s substantial contribution.