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BOC posts highest-ever monthly revenue of P70.7B in March
- The collection surpassed the monthly target by 22.6%
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14 of 17 collection districts hit their March 2022 goals
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For the first quarter, BOC took in P188.506 billion, representing 27.8% of its target for 2022
The Bureau of Customs (BOC) posted its highest-ever monthly revenue, taking in P70.727 billion in March, 22.6% higher than the P57.69-billion target for the month.
March was the third consecutive month this year that the BOC hit its monthly target, the bureau said in a statement.
And despite the pandemic, the customs bureau had been surpassing its annual revenue collection targets since 2020.
Based on a preliminary report from BOC’s Financial Service, 14 of 17 collection districts hit their March 2022 targets: the ports of San Fernando, La Union; Port of Manila, Manila International Container Port, Ninoy Aquino International Airport, Batangas, Iloilo, Cebu, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri, and Limay.
BOC attributes the positive performance to improving volume of imports in the country, improved valuation, and intensified collection efforts of all districts.
From January to March, BOC collected P188.506 billion, representing 27.8% of its target of P679.226 billion for the entire 2022.
The 2022 goal is 10.1% higher than the P616.749-billion target for 2021 and 5.1% up from the P645.765 billion actual collection last year.
Customs commissioner Rey Leonardo Guerrero had said earlier BOC set a higher internal target of P699 billion since it is required to collect additional revenues for the value-added tax refund.
