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Philippine Standard Time:
13 June 2024, 06:29 AM

BOC Exceeds January 2024 Revenue Target with Aggregate P73 Billion in Collections

February 6, 2024

Committed in enhancing the collection of lawful revenues for the country, the Bureau of Customs (BOC) achieved another milestone by surpassing its revenue target for January 2024 under the strong leadership of Commissioner Bienvenido Y. Rubio.

Preliminary reports indicate that the Bureau generated PhP73.329 billion in revenue for the first month of 2024. This accomplishment represents a surplus of 2.16%, amounting to PhP1.550 billion above the target collection of P71.779 billion.

The revenue collected in 2024 exceeded the previous year’s figures by PhP2.738 billion, or 3.88%. This notable increase is attributed to the Bureau’s improved system of determining the customs value of imported goods, strengthened border protection, and concrete trade facilitation efforts.

The Commissioner commended the collection districts for their noteworthy contribution to the overall collection performance of the agency, emphasizing, “The BOC is geared up for intensified efforts in 2024. We are committed to working twice as hard to ensure that we not only meet but exceed our year-end revenue target.”

The success in revenue collection during the first month of 2024 sets a positive precedent for the year ahead, showcasing the dedication of the BOC in contributing to the economic prosperity of our nation and underscoring the entire Bureau’s steadfast commitment for excellence and fiscal responsibility as strategically aligned with the Bagong Pilipinas campaign of His Excellency, President Ferdinand R. Marcos, Jr.

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