Senate assessing BoC modernization program
A major component of the BoC modernization program focuses on transitioning from a largely manual and paper-based organization into a modernized agency compliant with global standards by 2024
Daily TribuneA major component of the BoC modernization program focuses on transitioning from a largely manual and paper-based organization into a modernized agency compliant with global standards by 2024
Courtesy of BOC Facebook
The Senate Ways and Means Committee will conduct an ocular inspection and walk-through of the Bureau of Custom in Port Area, Manila today, a Philippine News Agency report said Sunday.
Officers and members of the Senate Tax Study and Research Office will assess the BoC's modernization program that involves the integration of the Ports of Manila, Cebu and Davao and the Manila International Container Port with the Customs Operations Center in Port Area.
"We noticed that the smuggling of goods continues and we want to address this problem, especially during this Christmas season where there are plenty of shoppers," Senator Sherwin Gatchalian said.
Last week, the government confiscated a cargo of 100,000 kilos of white onions which were said to be undervalued and misdeclared as bread and pastries. BoC agents also intercepted more than P63 million worth of frozen goods from Hong Kong and China.
A major component of the BoC modernization program focuses on transitioning from a largely manual and paper-based organization into a modernized agency compliant with global standards by 2024, the PNA report said.
"The BoC's revenue collection performance would improve if smuggling is effectively addressed. Higher budgetary allocations to finance the government's projects can be realized if revenue-collecting agencies are able to meet their target," he said.
In 2021, the BoC posted a total revenue collection of P645.77 billion, a 20-percent rise from a total collection of P537.69 billion the previous year.
The BoC set a revenue collection target of P671.66 billion for 2022 and has collected P320.5 billion as of May, based on Department of Finance data.
