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Customs exceeds 2022 collection target

THE Bureau of Customs (BoC) said on Tuesday that it has surpassed its 2022 revenue collection target, based on preliminary estimates.

As of Nov. 11, the bureau collected a record P745.5 billion, exceeding its 2022 target by 3.32%.

All 17 collection districts hit their respective collection targets, the bureau said.

The BoC exceeded its target for a 10th straight month in October, when collections for the month hit P75.5 billion.

During the 10-month period, collections hit P714.3 billion.

The BoC said it continues to focus on streamlining its processes to encourage trade flows and thereby attracting investment in the Philippines, while minimizing revenue leakage and upgrading border security. — Luisa Maria Jacinta C. Jocson