Customs exceeds Oct. target

THE BUREAU of Customs (BoC) said Wednesday that it exceeded its collection target for a tenth straight month in October.

In a statement, the BoC reported collections of P75.5 billion in October, exceeding its target for the month by 18.6%.

Year on year, October collections were up 35%.

In the 10 months to October, collections hit P714.3 billion, exceeding the year-to-date target by 18.5% and the year-earlier performance by 37%.

The BoC said it will continue to address sources of revenue leakage, corruption, and smuggling, while modernizing its processes. — Luisa Maria Jacinta C. Jocson