BoC collections top P80B in March following digitalization
THE Bureau of Customs (BoC) said on Monday it collected a record P80.133 billion in March, which it attributed to greater efficiencies realized with digitalization.
In a statement, it said it exceeded the monthly collection target by 10.86%.
In the first three months of 2023, the BoC collected P213.619 billion, surpassing its revenue target by 8.43%.
Customs Commissioner Bienvenido Y. Rubio said the strong performance was due to the bureau’s five-point program focused on digitalizing and simplifying processes, addressing smuggling, and empowering employees.
“This achievement is a testament to our collective effort to improve our revenue collection and promote good governance,” Mr. Rubio said in a statement.
According to the BoC, collections in the first three months exceeded the year-earlier tally by 13.3%.
Mr. Rubio said the first quarter result is an encouraging sign for the state of the broader economy.
“The BoC’s consistent improved performance bodes well for the government’s revenue targets and commitment to promoting economic growth and development,” he said.
The agency hopes to collect P901.3 billion this year. This includes P570.3 billion in value-added tax from imports, P207.4 billion in excise tax, P105.1 billion in import duty, and P18.5 billion in other fees. — Keisha B. Ta-asan