BoC February revenue tops P59 billion, beating target

March 1, 2022

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THE Bureau of Customs (BoC) said its revenue in February exceeded its target by over 17%, due mainly to an improved process of valuing goods.

The bureau in a statement on Tuesday said it collected P59.04 billion, 17.4% higher than the target.

Collections in February also exceeded the year-earlier total by over 25%.

Fourteen of the 17 collection districts exceeded their February targets.

The outperformers are the Port of San Fernando, Port of Manila, Manila International Container Port, Batangas, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri, and Limay.

In the year to date, collections amounted to P117.52 billion.

“Aside from this positive performance, the bureau maintained its border security measures against undervaluation, misdeclaration and other forms of technical smuggling, and collect lawful revenues,” the BoC said.

In 2021, Customs collected a total of P645.77 billion, 20% higher than the previous year and 4.7% above the bureau’s target, as international trade rebounded after the pandemic. — Jenina P. Ibañez