The Bureau of Customs (BOC) has exceeded its revenue collection target for the month of April, generating P68.274 billion, compared to its target of P68.199 billion, a high official said on Tuesday.
“This is a 3.97-percent increase from last year’s collection of P65.669 billion for the same period,” BOC Commissioner Bienvenido Rubio said.
Moreover, the agency’s total revenue collection for the first four months of 2023 reached P281.902 billion, surpassing the target collection of P265.220 billion by 6.29 percent or P16.682 billion, he added.
“This year’s collection is also 10.89 percent higher than the previous year’s collection of P254.226 billion for the same period,” Rubio said.
The BOC attributes its collection performance to its higher rate of assessment, which is mainly because of improved valuation of non-oil importation, the Revenue Collection Monitoring Group-Financial Service said.
The BOC sees its consistent increase in revenue collection as a positive development for the government, as it strives to generate revenue to fund various programs and projects.
In addition, the BOC recorded its highest daily collection for the year on April 30, amounting to over P7.51 billion—something viewed as an encouraging indication of the agency’s continued efforts to improve collection performance.
“We will continue to uphold our commitment to transparency, accountability, and service excellence as we strive to meet our revenue targets and contribute to the growth and development of our country,” Rubio said.
“With these promising results, the BOC remains optimistic on achieving its revenue target for the rest of 2023,” the commissioner added.