BOC exceeds August collection goal

With one more week left before this month ends, the Bureau of Customs (BOC) on Thursday said it had already exceeded its collection target for August.

In a statement, Customs Commissioner Yogi Filemon Ruiz said that as of Aug. 23, the import duties and other taxes collected by the BOC at the country’s 17 ports reached P60.5 billion. The figure surpassed
the P58.8-billion goal for the entire month.

“The BOC has been surpassing its monthly collection targets since January, and is poised to sustain its consistently good performance record through the implementation of its enhanced reform programs,” Ruiz said.

Last July, the tax take of the country’s second-biggest revenue agency hit a monthly record-high of P84 billion.

Early this month, Ruiz expressed confidence to surpass this year’s “internal” collection target of P740 billion.

President Marcos’ economic team increased the BOC’s collection target to P722 billion, from the original P679-billion program for 2022, given the tax windfall from costly fuel imports.

Ruiz said the BOC could increase collections while ramping-up its anti-smuggling campaign.

Last year, the BOC surpassed its P616.7-billion goal by collecting P643.6 billion. In 2020, the P537.7-billion tax and duty collection was also above its P506.2-billion target.