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Philippine Standard Time:
17 April 2024, 01:14 AM

BOC EXCEEDS MONTH AND YEAR REVENUE TARGETS IN NOVEMBER

December 4, 2022

The Bureau of Customs (BOC) surpassed anew its monthly revenue collection target by generating P76.770 billion in November, an increase of P16.176 billion or 26.7 percent from the targetted P60.603 billion.

Based on a preliminary report, the total revenue collection reached P790.301 billion from January to November.

The Bureau also marked its highest collection performance in history and reached this year’s revenue target of P721.52 billion as early as November 11. This means the Bureau is already P68.781 billion or 9.5 percent above its annual target as of November 30.

All 17 Collection Districts of the agency also achieved their cumulative revenue targets for 11 months.

Finance Secretary Benjamin Diokno earlier expressed confidence that the BOC’s revenue surplus may cover the shortfall of other national revenue-generating agencies. Secretary Diokno was optimistic that the government would reach its collection goal with the Bureau’s substantial contribution.

Customs Commissioner Yogi Filemon Ruiz acknowledged the collective efforts and dedication of the Bureau’s employees who continued to provide frontline services for the country. He also vowed to boost employee morale under his administration.

President Ferdinand Marcos Jr. ordered Commissioner Ruiz to prioritize boosting revenue collection, curbing smuggling, and streamlining Customs processes to meet the needs of a digital economy.

Several reforms were expedited and implemented under the leadership of Commissioner Ruiz that paved the way in plugging revenue leakages and sustain a positive collection performance. #

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