BOC exceeds collection goal in January 2022

The Bureau of Customs (BOC) said Wednesday it has surpassed its collection target in January this year by P6.035 billion.

In a statement, the BOC said it collected a total of P58.158 billion last month, 11.58% higher than its goal of P52.123 billion for the period.

Citing preliminary report from the its Financial Service, the Customs said 14 out of the 17 collection districts hit the targets, namely the Ports of San Fernando, POM, MICP, Batangas, Legaspi, Iloilo, Cebu, Surigao, Zamboanga, Davao, Subic, Clark, Aparri, and Limay.

Last year, the agency said it surpassed its annual revenue collection target by 4.7% or P29.036 billion, collecting a total of P645.785 billion against its P616.749 billion target.

The BOC attributed the positive revenue collection performance to improved valuation, intensified enforcement against illegal importations, improved compliance by traders to customs laws, the gradual improvement of importation volume, and the government's effort in ensuring unhampered movement of goods domestically and internationally.

The Customs is the second largest revenue-generating government agency next to the Bureau of Internal Revenue.

For the past two years, the BOC said it was able to surpass its annual target collection by 6.23% and 4.70% respectively even during a global health crisis.—AOL,GMA News