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The Bureau of Customs surpassed its November collection target by 1.5%
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The November collection reached P75.34 billion vis-vis its target of P74.25B target
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BOC’s year-to-date collection of P813.65B has already exceeded the P795.66B target by 2.2%
The Bureau of Customs (BOC) surpassed its November revenue collection by 1.5%, according to commissioner Bienvenido Rubio.
Preliminary data reveals the collection for November reached P75.34 billion, exceeding the P74.25-billion target.
The year-to-date collection for BOC stands at P813.65 billion, already surpassing the targeted P795.66 billion by 2.2%. This marks a 3.09% increase from the previous year’s revenue collection of P789.25 billion.
Customs commissioner Bienvenido Rubio attributed the increase to “efficient tax collection,” emphasizing improvements in assessing incoming goods.
He said, “If we’re talking about volume, it’s not increasing. (The increase was) more on the efficiency of the tax collection. Now, we are really doing great in assessing the goods that are coming in.”
He explained, “In the past, certain commodities arrived, and we probably did not see the specifics. Now, based on inspections [and] examinations, we can see the actual content.”
He said the BOC is “on track” to meet its P874.2-billion collection target for 2023.
Rubio expressed confidence that the agency will produce a surplus.
