BoC’s P106B Jan. collection exceeds target

BoC’s P106B Jan. collection exceeds target | Daily Tribune

The Bureau of Customs’ P106-billion collection for January 2024 surpasses the agency’s target revenue for the period.

BoC Deputy Commissioner Michael Fermin stated in a press conference in Quezon City on Saturday, that “this year, since we just started, for January we collected P106 billion; that is ahead of the target, so we're on the right track."

“We have been efficiently collecting revenues, especially with the higher target this year set by the DBCC,” Fermin said.

Fermin was referring to the Development Budget Coordination Committee, an inter-agency body under the National Economic and Development Authority tasked with setting the government’s macroeconomic assumptions.

2023 achievements

The BoC official highlighted its achievements for 2023, pointing at the agency’s 2023 revenues totaling P883.62 billion, which is P9.45 billion more than the P874 billion collection projected by the agency last year.

He also reported the agency’s gains and continuing work on border control and protection, trade facilitation, and the filing of cases against erring individuals and companies.

Last year, the BoC recorded some 980 successful seizure operations worth an estimated P43.3 billion. Fermin said that more than 50 percent of the operations yielded counterfeit goods, fake bags, shoes and other like items, followed by illegal drugs worth P7 billion; followed by agricultural products and other general merchandise.

Criminal cases

Also last year the Bureau also filed last year 90 criminal cases before the Department of Justice, 60 of which involved agricultural smuggling. This year, it has filed 13 more cases with the DoJ.

In his exchange with media yesterday, Fermin said the BoC has already complied with 97 percent of its basic operations in terms of trade facilitation, under President Ferdinand R. Marcos Jr.'s demand for full digitalization.

He also informed that the Bureau has designed and deployed some of the systems, like the eTravel system, aimed at providing the public with additional ease in transacting with the agency. This entails completely automating and streamlining the agency's key activities.