The Bureau of Customs has again exceeded its revenue collection target, generating P68.274 billion for April 2023, compared to its target of P68.199 billion.
This is a 3.97 percent increase from last year’s collection of P65.669 billion for the same period.
BOC commissioner Bienvenido Y., Rubio announced that 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.
This year’s collection is also 10.89 percent higher than the previous year’s collection of P254.226 billion for the same period.
The BOC attributes its collection to its higher rate of assessment, which is mainly due to improved valuation of non-oil importation, according to the Revenue Collection Monitoring Group – Financial Service.
The BOC’s consistent increase in revenue collection is a positive development for the Philippine government, as it strives to generate revenue to fund its 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. This is an encouraging indication for the agency’s continued effort to improve its collection performance.
We will continue to uphold our commitment to transparency, accountability, and service excellence as we strive to meet out revenue targets and contribute to the growth and development of our country,” said Rubio.
With these promising results, the BOC remains optimistic on achieving its revenue target for the rest of 2023.
