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23 June 2024, 15:40 PM

BOC Reports Strong Revenue Performance and Enhanced Border Security in 2024 during DOF Execom

May 22, 2024

On May 15, 2024, during the Department of Finance’s (DOF) Executive Committee meeting with the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), Commissioner Bienvenido Y. Rubio provided a comprehensive update on the bureau’s accomplishments and ongoing initiatives across the agency’s various operational areas.

The preliminary report shows the BOC collected PhP330.27 billion between January and May 13, 2024, exceeding its target of PhP317.87 billion by 3.90%, or PhP12.41 billion. This figure represents a 7.00% increase from the same period last year when PhP308.65 billion was collected.

The Commissioner also presented its first-quarter report on the volume of imports, including oil and non-oil commodities. Additionally, the BOC provided updates to the DOF on the Philippines Customs Modernization Project (PCMP), detailing its meetings with the World Bank, the next steps for the initiative, as well as the progress on VAT refund applications.

Through the BOC’s enhanced border protection, 132 apprehensions were conducted in the first quarter, resulting in seizures worth approximately PhP28.02 billion. These seizures included general merchandise, counterfeit goods, cigarettes/tobacco, and various illegal drugs uncovered at different ports. Meanwhile, under the fuel marking program, a total of 7.01 billion liters of fuel were marked for the current calendar year and fuel worth PhP908.52 billion marked from 2019 to May 9, 2024.

During the meeting BOC acknowledges the importance of these efforts in ensuring the nation’s financial stability and security, stressing that the agency will continue to enhance its operations and strategies to meet these critical objectives. In a statement, Commissioner Rubio emphasized the ongoing dedication of the BOC to its role in supporting DOF’s mission, stating, “The BOC remains committed to contributing to DOF’s goal of fostering national socio-economic growth by collecting additional revenue for our fellow Filipino people and guarding the country’s borders.”

Republic of the Philippines

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