Banner Before Header

BOC continues to overshoot monthly tax target

THE Bureau of Customs (BOC) under Commissioner Bienvenido Rubio, continues to overshoot its monthly assigned target, generating a surplus collection of nearly P5 billion for the month of February.

Assistant Commissioner and spokesperson, Atty. Vincent Maronilla, quoting from the data provided by the Financial Service, said the agency collected a total of P70.601 billion last month, or 6.64 percent higher than its assigned target of P66.207 billion for an actual surplus tax-take of P4.393 billion.

From January, the BOC has an aggregate collection of P143.930 billion or 4.31 percent higher than its expected target of P137.97 billion equivalent to P5.943 billion in surplus collection.

Several factors, according to Maronilla, contributed to the surge in BOC collection, including the agency’s higher assessment rate due to improved system of determining the customs value of imported goods.

“Through enhanced strategies and technological advancements, the BOC has optimized its procedures and trade facilitation efforts,” he added.

Additionally, the BOC has bolstered its border protection and anti-smuggling campaign.

Earlier in February, the agency participated in the World Customs Organization Regional Intelligence Liaison Office for Asia and the Pacific, reflecting the bureau’s drive to further strengthen its anti-smuggling capabilities.

In this event, the BOC takes pride in reporting that in the past year, thru the effort of the Intelligence Group headed by Deputy Commissioner Juvymax Uy, P43.295 billion worth of smuggled goods were apprehended, a historic record to date.

Under Comm. Rubio, the bureau is aiming to actually collect P1 trillion in revenue this year.

Comments are closed.