June 21, 2024

The Bureau of Customs reported it has posted a surplus of P10.769 billion in its April revenue collection.

Based on the preliminary report from the BOC-Financial Service, the amount is 19.6 percent over its target for last month of P54.9B. The total collection for April 2022 is P65.7B.

It also reported 14 out of the 17 collection districts hit their targets.

Last March, the BOC recorded its highest monthly revenue collection in history with P70B collection for the period.

BOC Commissioner Rey Leonardo Guerrero attributed the collection performance to the improved valuation, intensified enforcement against illegal importations, and improved compliance by traders to customs laws.

The BOC is the second largest revenue-generating government agency next to the Bureau of Internal Revenue. – PNA