BoC expands digitalization

Former Finance chief Benjamin Diokno shared that digitalization of various processes at the Bureau of Customs nears completion even as he stepped down from his post.

The Department of Finance, or DoF, reported it has digitalized 161 out of 166 customs processes, resulting in a 97 percent digitalization rate.

“These efforts allowed the bureau to enhance its trade facilitation. I am proud knowing that I will be leaving my post at a time when the Philippine economy, in general, and the DoF, in particular, are in a better state of affairs than when I inherited them,” Diokno said.

The statement came after the BoC said it collected revenue last year amounting to P874.17 billion or 1 percent higher than its full target.

Up from 2022

Compared to the 2022 collection, the latest data was higher by 2.5 percent.

Diokno said the digitalization of the BoC advances the three goals of the Marcos administration.

First, to reduce the country’s deficit-to-GDP ratio to 3 percent. Second, to uplift most Filipinos to upper middle income status by 2025. Last, to lower poverty incidence to a single digit.