BOC records exceptional collection performance to Aug;
THE Bureau of Customs (BOC) has reported exceptional collection performance for August 2023, surpassing the official target set by the Development Budget Coordination Committee (DBCC). Preliminary data reveals that the BOC collected an impressive PHP 75.642 billion, exceeding the DBCC’s target of PHP 72.275 billion by 4.7%, equivalent to PHP 3.367 billion.
Moreover, the BOC’s success extends beyond August. From January to August 2023, the Bureau generated PHP 582.133 billion in revenue, surpassing the target of PHP 567.740 billion by 2.54%, equivalent to PHP 14.393 billion. Compared to the previous year’s collection of PHP 558.455 billion during the same period, this year’s revenue grew by 4.24%, amounting to PHP 23.678 billion.
The impressive collection performance of the BOC can be attributed to efficient customs operations, enhanced trade activities, and robust revenue collection measures implemented under Commissioner Bienvenido Y. Rubio’s leadership.
Commissioner Rubio expressed his gratitude and commended the dedicated men and women of the Bureau for their exceptional performance, which undeniably are instrumental in achieving this revenue milestone.
The BOC’s performance above revenue targets demonstrates the agency’s commitment to fiscal responsibility and its role in contributing to the country’s economic growth and stability. These achievements will fund essential government projects and services in the coming months, benefiting the Filipino people.
“We will continue to monitor trade activities and implement measures to sustain this positive momentum in revenue collection, as part of the Bureau’s collaborative effort in further strengthening the nation’s financial standing,” said Commissioner Rubio.
Incidentally, aside from consistent exceptional revenue collection performance, the Bureau of Customs, under the stewardship of Commissioner Rubio, has successfully conducted 687 anti-smuggling operations, resulting in the seizure of PHP 31.118 billion worth of various smuggled goods, the highest in the last five years.
Similar milestone in trade facilitation, the BOC secured the second spot among Southeast Asian nations in the 2023 United Nations Global Survey with an impressive total Trade Facilitation score of 87.10%.
These milestones underscore the Bureau’s vital role in bolstering the nation’s financial stability and promoting efficient trade practices.
