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Philippine Standard Time:
17 August 2024, 03:32 AM

BOC and Other Gov’t Agencies Lauded for Revenue Collection Success

August 15, 2024

During the second briefing session of the Senate Committee on Finance on the Proposed 2025 National Expenditure Program (NEP), key government agencies, including the Bureau of Customs (BOC), received notable praise for their exceptional revenue collection performance. Senate Minority Leader Senator Aquilino “Koko” Pimentel III recognized the BOC, along with the Bureau of Internal Revenue (BIR) and the Department of Finance’s (DOF) Corporate Affairs Group, for their contributions to a 15% increase in government revenues in the first half of 2024.

Finance Secretary Ralph G. Recto reported that government collections for mid-2024 reached PHP 2.15 trillion, marking a 15% growth from the PHP 1.9 trillion collected during the same period in 2023. When Senator Pimentel inquired about which agencies should be credited for the achievement, Secretary Recto promptly acknowledged the efforts of the BOC, BIR, and DOF’s Corporate Affairs Group.

The BOC alone contributed PHP 455.518 billion to national revenue from collections between January and June 2024.

Senator Pimentel congratulated the BOC and BIR for their improved revenue collection, highlighting that these contributions have positively impacted and helped reduce the budget deficit.

Under Commissioner Rubio’s leadership, the BOC remains committed in increasing revenue collection, which is crucial for supporting social development and infrastructure projects. Commissioner Rubio stated, “The revenue we secure is instrumental in funding key initiatives that drive economic growth and improve public services. We will continue to prioritize efficiency and integrity in our operations to ensure that we meet and exceed our revenue goals for 2024.”

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