THE Bureau of Customs (BOC) has surpassed its collection target for October.
The BOC reported yesterday that its total collections last month reached P78.616 billion, exceeding its collection goal of P77.53 billion by 1.4% or P1.084 billion.
Year-to-date, the Customs’ revenues stood at P739 billion, up 2.4% or P17.287 billion more than its target of P721.717 billion for the January to October period.
Year-on-year, the BOC’s cumulative collections rose by 3.57% or P25.482 billion higher from the P713.522 billion collection in the same period last year.
The agency attributed its revenue performance to enhanced trade facilitation efforts.
Particularly, on Oct. 18, the BOC signed a memorandum of agreement (MOA) with PHLPOST to expedite the release of clearances, enhance security controls, and simplify customs procedures.
Customs commissioner Bienvenido Rubio, for his part, said that the Customs’ revenue performance during the period “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.”
“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,” said Rubio.
The BOC said it 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. (GMA Integrated News)
