BOC surpasses April collection target with P3B surplus
THE Bureau of Customs (BOC) has surpassed its revenue collection performance for April 2024, exceeding its target by P 3.192 billion. Preliminary reports indicate that the BOC has collected a total of P 80.822 billion, surpassing its goal of P 77.630 billion.
This remarkable achievement adds to the bureau’s stellar performance for the first four months of 2024. From January to April, the BOC collected P 299.674 billion in revenue, surpassing its target collection of PhP 288.526 billion by 3.86%. This surplus amounts to P 11.148 billion and marks a significant increase of 6.50% or P18.292 billion compared to the same period last year.
The BOC attributes its exceptional collection performance to several factors, notably its heightened rate of assessment. The revenue collected by the agency plays a crucial role in fueling social and economic development initiatives across the country.
Under the leadership of Commissioner Bienvenido Y. Rubio, the BOC has achieved significant milestones in meeting its revenue goals and implementing digital customs procedures. The BOC has also carried out trade facilitation initiatives through workshops, conferences, and international engagements. Moreover, intensified efforts against smuggling have led to significant seizures in the first quarter of 2024.
As the BOC continues to build on these achievements, Commissioner Rubio emphasizes on maintaining this momentum stating, “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. We strive to create a brighter future for all Filipinos, ensuring that the benefits of our efforts are felt across communities.”
