Customs overshoots Q1 collection target by P16.6B, 8.43%

The Bureau of Customs (BOC) on Tuesday reported that it surpassed its collection target for the first quarter of 2023 while setting a new record monthly collection in March.

In a statement, the BOC said it collected P213.619 billion during the January to March period.

The first three months of 2023 collection exceeded the Customs’ target of P197.020 billion for the period by P16.6 billion or 8.43%.

For March alone, the BOC posted a total collection of P80.133 billion, its highest monthly collection so far.

March’s collection performance also surpassed the target of P72.282 billion for the month by P7.851 billion or 10.86%.

The BOC said “[Customs] Commissioner Bienvenido Rubio led the bureau in attaining this remarkable feat, which covers his full month of service as the head of the BOC.”

Rubio, for his part, said the strong collection performance is due to the Customs’ five-point priority programs, which focus on digitalizing BOC processes, simplifying procedures, curbing smuggling in all forms, and uplifting employee welfare and development.

"Our positive collection performance for the first quarter of 2023 is a testament to the hard work and dedication of our men and women at the Bureau. We will continue to implement our priority programs and introduce new initiatives to sustain this positive momentum," said Rubio.

The Customs’ collection performance for the first quarter of 2023 also grew by 13.29% from P188.557 billion collected in the same period last year.

"I am proud of the hard work and dedication of the men and women of the Bureau of Customs. This achievement is a testament to our collective effort to improve our revenue collection and promote good governance," said Rubio.

The BOC said its strong performance in the first quarter of the year bodes well for the country's economic recovery as it demonstrates that the government's efforts to improve revenue collection and promote good governance are yielding positive results. —KG, GMA Integrated News