THE Bureau of Customs (BoC) inched closer to its P959 billion collection target for the year after it surpassed its midyear target.
The BoC said that for the first half of the year, the bureau collected P456,053 billion, surpassing its target of P442,621 billion by 3.03 percent or equivalent to P13.433 billion.
The January to June collection is 5.22 percent higher compared to the same period last year.
For June alone, the bureau collected P75.159 billion, surpassing the monthly target by 0.92 percent or P685 million.
Notable additional revenue collected include P1.749 billion from audit findings and voluntary disclosures, P88.118 million from public auction proceeds at various ports, and a significant contribution of P5.706 billion from the Tax Expenditure Fund, all of which helped the bureau meet its target.
Commissioner Bienvenido Rubio on Monday attributed the unprecedented revenue performance for the first half of 2024 to the collective efforts of personnel, enhanced valuation methods, and the digitization and modernization of BoC systems.
“This achievement is a testament to the BoC’s commitment to efficient revenue collection and combating illicit trade activities,” said Rubio. “Our efforts not only strengthen fiscal stability but also support crucial national development initiatives, including infrastructure projects, education, health care, and national security enhancements.”
The BoC is the second biggest revenue collection agency of the government next to the Bureau of Internal Revenue.
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