From January to September 2024, the Bureau of Customs (BOC) amassed PhP690.842 billion in revenue, based on preliminary data. This reflects a 4.61% growth, or an increase of PhP30.454 billion, compared to the PhP660.388 billion collected during the same period last year.

The total collections from January to September fell short by 0.44%, amounting to PhP3.046 billion less than the DBCC target of PhP693.888 billion.

Recent policy changes, particularly the implementation of Executive Order (EO) No. 62, which reduced rice tariffs from 35% to 15%, resulted in a revenue loss of PhP6.089 billion from rice imports.

Moreover, EO 62 expanded the zero-import duties under EO 12 to include battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), plug-in HEVs, and specific parts and components, leading to an additional revenue loss of PhP2.901 billion.

Despite these challenges, the Bureau remains optimistic in achieving its revenue goal for the year. The BOC will actively work and implement strategic measures to boost revenue collection, including the collection of non-traditional revenues such as post-entry audit and auction. These efforts are aimed at not only recovering lost revenues but also positioning the Bureau for sustainable financial growth in the future.

Commissioner Bienvenido Y. Rubio emphasizes, “Our commitment to transparency and efficiency in customs operations empowers us to build a stronger economy for all Filipinos. Together, we are not just collecting taxes; we are investing in the future of our nation.”

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