BOC collects record P862.9B in 2022

The Bureau of Customs (BOC) on Friday said it achieved its highest revenue collection in its history last year and exceeded its goal by double digits.

In a statement, the BOC said it collected P862.929 billion for the full year 2022, its highest on record.

The revenue last year exceeded its target of P721.52 billion by 19.6%, or P141.409 billion.

The 2022 collection performance was also an improvement of 34.1%, or P219.367 billion, compared to the P643.562 billion collected in 2021.

It was the first time in the BOC's history that all ports exceeded their annual collection targets per the BOC Financial Service, the Customs said.

The agency said its Post Clearance Audit Group (PCAG) collected P1.840 billion in deficient customs duties, taxes, penalties, and interests as part of the 2022 revenue collection, surpassing its 2021 collection of P1.522 billion by 21% and its target collection of P1.584 billion by 16%.

"The Group bolstered the BOC Post Clearance Audit and Post Modification through the Computer-Aided Risk Management System (CARMS), which was implemented in August 2022," it said.

"The system provides critical information for traders to measure and improve Customs compliance," it added.

The BOC said it also raised P292 million from public auctions of overstaying cargo.

The public auction of seized, forfeited, or abandoned containers generated additional revenues for the government and decongested the ports of the bureau for more efficient trade facilitation, the Customs said.

The BOC said its additional revenues included the P22.8 billion from rice tariff collection. —VBL, GMA Integrated News