Customs bureau surpasses May 2022 target revenue collection by over 20%



(Eagle News) — The Bureau of Customs announced it collected over P68 billion worth of revenues for the country in May, surpassing its target for the month by more than P11 billion.

According to the bureau, the P68.245 billion collected translates to an increase of 20.8% from the initial target of P56.478 billion.

Based on the preliminary report from the BOC-Financial Service, the bureau said fifteen of the seventeen collection districts exceeded their target.

These were the Port of San Fernando, Port of Manila, MICP, Ports of Batangas, Legaspi, Iloilo, Cebu, Tacloban, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparril, and Limay.

“Among the factors which contributed to the positive performance of the BOC since January this year include the improved valuation, intensified collection efforts, measures preventing revenue leakage, and the recovering economy of the country,” the bureau said.

Commissioner Rey Leonardo Guerrero commended the efforts of the District Collectors and Customs personnel who, he said,  showed their commitment and dedication to service despite the risk to their health and safety.

To date, the bureau has collected P322.472 billion since January, representing  47.5% of the 2022 annual target collection of P679.226 billion, the bureau said.



Source link