Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email

BOC logs P6-B collection surplus

The Bureau of Customs (BOC) yesterday reported a collection surplus of over P6 billion in January.

Based on the preliminary report from its Financial Service, the bureau said last month’s collection amounted to P58.158 billion, higher by 11.58 percent than its target collection of P52.12 billion.

It added that 14 out of the 17 collection districts hit their January target. The ports are Port of Manila, Manila International Container Port, Ports of San Fernando, Batangas, Legaspi, Iloilo, Cebu, Surigao, Zamboanga, Davao, Subic, Clark, Aparri and Limay.

The positive revenue collection performance is attributed to the improved valuation. intensified enforcement against illegal importations, improved compliance by traders to customs laws, gradual improvement of importation volume, and the government’s efforts in ensuring the unhampered movement of goods domestically and internationally.

“We commend the men and women of the Bureau of Customs for despite the continued threat to their health and personal safety, continue to perform their mandate and serve the public,” Customs Assistant Commissioner Vincent Philip Maronilla said in a message.

He added that the bureau’s target collection for this year is P679 billion.

Last year, the bureau surpassed its annual revenue collection target by 4.7 percent or P29.036 billion, collecting a total of P645.785 billion against its P616.749 billion target.

The BOC is the second largest revenue-generating government agency, next to the Bureau of Internal Revenue.*PNA

Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email
ARCHIVES

Read Article by date

August 2022
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
293031 

Get your copy of the Visayan Daily Star everyday!

Avail of the FREE 30-day trial.