BOC Collected ₱60.524 Billion from Custom Operations

The Bureau of Customs (BOC) has released a statement indicating that they have exceeded their ₱58.85 billion target for August and have successfully collected ₱60.524 billion as of August 23, 2022.

BOC has mentioned that the real collection is up by 2.8% or around ₱1.675 billion if compared to the target of August.

The agency has been exceeding its monthly collection targets since January 2022.

BOC has also stated that it is “poised to sustain its consistently good performance record through the implementation of its enhanced reform programs.”

Acting Customs Commissioner Yogi Filemon Ruiz has said that the BOC planned to hit another record-high monthly collection for August. The highest revenue taken for the agency was July of this year at ₱84.4 billion.

However, Ruiz has mentioned that the Chinese “Ghost Month” proved an obstacle for them since this is when people put off big decisions including those related to business.

The BOC is the second-largest revenue collection agency and is required to collect a total of ₱721.5 billion for 2022.

Ruiz has said that the BOC is on track to hitting the required goal. He has also promised to replace district collectors who are unable to meet their revenue targets. This is in line with the order of President Ferdinand “Bongbong” Marcos Jr.

Aside from revenue-generating, Ruiz mentioned that President Marcos Jr. has asked him to eradicate the smuggling of illegal drugs, agricultural products, and firearms. He also stated that the President ordered the full digitalization and automation of the processes in Customs.

Source: Business Mirror