MANILA – The Bureau of Customs (BOC) on Monday reported that it has already surpassed its total revenue target for 2022 in November.
According to its preliminary report, the bureau logged a total revenue collection of PHP790.301 billion in the first 11 months of this year.
This resulted to a PHP68.781 billion surplus as compared to the PHP721.52 billion revenue collection target for this year.
This is also the highest collection performance in the bureau’s history.
In addition, the BOC once again exceeded its monthly revenue collection target by generating PHP76,770 billion in November, an increase of PHP16,176 billion or 26.7 percent from the collection target of PHP60,603 billion.
The agency’s 17 collection districts also achieved their cumulative revenue targets for 11 months.
Commissioner Yogi Filemon Ruiz acknowledged the collective efforts and dedication of the Bureau’s employees who continued to provide frontline services for the country.
Under his leadership, a number of reforms were hastened and executed, paving the way for plugging revenue leakages and maintaining a positive collection performance.
Finance Secretary Benjamin Diokno previously expressed confidence that the BOC’s revenue surplus may cover the shortfall of other national revenue-generating agencies.
With the bureau’s substantial contribution, he was likewise certain that the government would meet its collection target.
President Ferdinand R. Marcos Jr. directed Ruiz to prioritize boosting revenue collection, curbing smuggling, and streamlining Customs processes to meet the demands of a digital economy.
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