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The Bureau of Customs surpassed its revenue collection target in April 2024 by 4.11%, taking in P80.822 billion versus the P77.630-billion goal
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For the first four months of the year, BOC also exceeded its P288.526-billion goal by 3.86%, with a total take of P299.674 billion
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The customs bureau attributes its collection performance to several factors, including its “heightened rate of assessment” and through the implementation of digital customs procedures
The Bureau of Customs (BOC) surpassed its revenue collection target in April 2024 by 4.11%, taking in P80.822 billion versus the P77.630-billion target for the month.
For the first four months of the year, BOC also exceeded its goal of P288.526 billion by 3.86%, collecting a total of P299.674 billion, 6.50% higher year-on-year, BOC said in a statement.
The customs bureau attributes its collection performance to several factors, including its “heightened rate of assessment” and through the implementation of digital customs procedures.
Intensified efforts against smuggling also led to significant seizures in the first quarter of 2024, the agency said.
Moreover, BOC carried out trade facilitation initiatives through workshops, conferences, and international engagements.
“By diligently executing our duties, we aim to not only meet revenue targets but also to catalyze socio- economic development initiatives that positively impact the lives of our countrymen,” Customs commissioner Bienvenido Rubio said.
READ: BOC exceeds March collection target by 3.45%
This year, the BOC is tasked to collect P959 billion, 9.7% higher than its 2023 target of P874.166 billion. The 2024 target is also 8.5% more than last year’s P883.624 billion actual collection.
