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Philippine Standard Time:
24 April 2024, 21:50 PM

BOC GARNERS HIGHEST ANNUAL REVENUE COLLECTION IN HISTORY

January 13, 2023

The Bureau of Customs (BOC) achieved its highest annual revenue collection in history amounting to P862.929 billion, exceeding its target collection of P721.52 billion by 19.6% or P141.409 billion on its preliminary report.

The 2022 revenue collection performance showed an increase of 34.1% or P219.367 billion compared to the P643.562 billion revenue collection in 2021.

It was the first time in the BOC history that all ports exceeded their annual collection targets per the BOC Financial Service.

The Post-clearance Audit Group (PCAG) collected P1.840 billion in deficient Customs duties, taxes, penalties, and interests as part of the 2022 BOC revenue collection, surpassing its 2021 collection of P1.522 billion by 21% and its target collection of P1.584 billion by 16%.

The Group bolstered the BOC Post Clearance Audit and Post Modification through the Computer-Aided Risk Management System (CARMS), which was implemented in August 2022. The system provides critical information for traders to measure and improve Customs compliance.

The BOC also raised P292 million from public auctions of overstaying cargoes.

The public auction of seized, forfeited, or abandoned containers generated additional revenues for the government and decongested the ports of the Bureau for more efficient trade facilitation.

The additional revenues included the P22.8 billion rice tariff collection of the BOC. The Rice Tariffication Law helps consumers and farmers by lowering the retail prices of rice and providing assistance to farmers through excess tariff revenues.

Customs Commissioner Yogi Filemon Ruiz has warned unscrupulous individuals against smuggling, and other forms of Customs fraud as the Bureau pursues to heighten its border protection efforts to combat revenue leakages and increase the collection of lawful revenues for the Philippine government.

Commissioner Ruiz continues to lead the BOC in implementing the directives of President Ferdinand Marcos Jr. to boost revenue collection, strengthen border control, and enhance trade facilitation while curbing corruption and gearing toward a modernized Customs administration. #

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