BOC collects P68 billion, exceeding its May 2022 target collection by P11 billion

BOC collects P68 billion, exceeding its May 2022 target collection by P11 billion

In Tacloban port alone, the Bureau of Customs was able to collect a total of P604.73 million in revenue for the month of May. Photo: Logistic Capacity Assessment website

Following its responsibility to collect lawful revenues for the country, the Bureau of Customs exceeded its May 2022 target collection by 20.8 percent, or P11.767 billion, with an actual collection of P68,245 billion compared to the target collection of P56,478 billion.

According to the preliminary report from the BOC-Financial Service, fifteen of the seventeen collection districts surpassed their monthly goal: Port of San Fernando, Port of Manila, MICP, Ports of Batangas, Legaspi, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga City, Davao, Subic, Clark, Aparril, and Limay.

Since January, the Bureau of Customs has collected P322.472 billion, reflecting 47.5% of the 2022 annual target collection of P679.226 billion based on the same initial report.

Among the factors that contributed to the positive performance of the BOC this year, this year include the improved valuation, intensified collection efforts, measures preventing revenue leakage, and the country's recovering economy.

In spite of this performance, the Bureau has maintained its border security measures against undervaluation, misdeclaration, and other kinds of technical smuggling and has continued to collect legal revenues.

Commissioner Rey Leonardo Guerrero praised the work of the men and women of the Bureau of Customs of the District Collectors, who, despite the risk to their health and safety, have shown an unwavering commitment to their jobs. —iTacloban 

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