THE Bureau of Customs (BOC) exceeded its target in October and in the 10-month period on the back of its efforts to curb smuggling.
On Friday, BOC said it collected a total of P78.616 billion in October 2023. This was 1.4 percent higher or P1.084 billion above its collection target for the month.
In the January to October 2023 period, BOC revenues reached P739 billion, with 2.4 percent more or P17.287 billion higher than its P721.717-billion target collection for the period.
“Our relentless drive against smuggling and the implementation of trade efficiency measures significantly contributed to the increase in revenue collection. We are doubling our efforts to provide financial resources to support the government’s programs and projects,” BOC Commissioner Bienvenido Y. Rubio said.
Rubio said that the remarkable feat demonstrates the Bureau’s dedication to excellence, reinforcing its mandate to increase revenue collection and enhance trade facilitation in support of the country’s economic development.
BOC is also ramping up its digitalization efforts by developing new systems and modern facilities to further streamline procedures and reduce processing times in import and export transactions.
Last October 18, 2023, BOC further boosted its trade facilitation efforts with the signing of a Memorandum of Agreement (MOA) with PHLPOST aimed at expediting clearances, enhancing security controls, and simplifying customs procedures.