THE Bureau of Customs (BOC) on July 2022 was able to collect a total of P84.424B, surpassing its target of P60.785B by P23.639B or +38.9% based on the preliminary report from the BOC Financial Service. The collection includes additional revenues from the Tax Expenditure Fund (TEF) collection of P1.128B and Post Clearance Audit Group (PCAG) collection of P527.65M in the same month.
Furthermore, the BOC and its Collection Districts continue to showcase its positive collection performance. To date, the BOC collected P481.139B since January 1, surpassing its cumulative target of P388.597B by P92.542B or +23.8%. The cumulative collection includes additional revenues from the TEF collection of P2.563B and PCAG collection of P1.366B.
Notably, BOC’s collection from January to July this year is also higher by +34.1% or P122.224B than the P358.915B January to July collection in 2021.
The collection performance in July 2022 of the BOC and its 17 Collection Districts under Former Commissioner Rey Leonardo B. Guerrero, and now under the leadership of Commissioner Yogi Filemon L. Ruiz, is attributed to the improved valuation of the bureau, its digitized and modernized systems, the gradually improving economy resulting to higher volume of importations, and the intensified collection efforts of all districts which prevent revenue leakages, and collection of all lawful revenues.
