The Bureau of Customs has surpassed its target collection for the eighth consecutive time this year, a high official said over the weekend.
In a statement, Customs Commissioner Yogi Filemon Ruiz said "revenue for the month of August accumulated P78.9 billion based on a preliminary report from Financial Service."
The figure was P20 billion, or 34.1 percent more than its target collection of P58.8 billion for the month.
Revenues of P78.9 billion includes the P77.9 -billion collection from all collection districts of the Bureau, P248.2 million from the Post Clearance Audit Group and P677.4 million from the Tax Expenditure Fund.
"All 17 Ports surpassed their targets and cumulatively achieved a P15.8 billion or 25-percent surplus through intensified collection efforts under the present leadership," Ruiz said.
P559B until Aug.
From January to August 2022, the BoC raised a total revenue of P559.2 billion.
"This is P146.9 billion or 35.6 percent higher than the P412-billion actual collection from the same timeline in 2021," Ruiz said.
The collection performance of the BoC and its 17 collection districts, under the leadership of Ruiz, is attributed to the intensified collection efforts, streamlined, digitized, and modernized systems and the improving economy resulting in higher volume of imports.
