The Bureau of Customs (BOC) collected P931.046 billion in revenue in 2024, reinforcing its critical role in supporting national economic growth, the agency reported on Saturday.

This figure is 5.36 percent more than the P883.624 billion collected in 2023, which surpassed the Department of Finance (DOF's) target, P874.16 billion, by 1.08 percent.

Revenue collection has shown steady growth over the past three years. In 2023, BOC’s revenue rose by 2.46 percent compared to P862.41 billion collected in 2022.

Looking ahead, BOC has been tasked with collecting P1.06 trillion in 2025.

Finance Secretary Ralph Recto acknowledged the challenge of meeting this goal. “Double-digit [increase in revenue target for both BIR and BOC] next year. BIR and BOC [targets] will be challenging because the growth rate, average [revenue] growth of the BOC is about five to six percent,” Recto said in a media briefing in December 2024.

To meet this target, BOC will have to collect nearly 14 percent more than they did in 2024.

Notably, and in spite of Customs' strong performance, the agency just missed the P939.6-billion target set for it in 2024.

Sustaining economic growth

Preliminary DOF data released in January indicated that total government revenue collection — which comprises earnings from BOC, the Bureau of Internal Revenue (BIR), and other sources — reached P4.40 trillion in 2024, exceeding the Development Budget Coordination Committee’s (DBCC) full-year projection of P4.38 trillion. The BOC’s share in this total revenue stood at P931 billion, demonstrating its continued contribution to national economic stability.

Despite lower tariff baselines due to reduced duties on rice and certain electric vehicles, as well as delays in tax reforms under the Capital Market Promotion Efficiency Act, the BOC still achieved its revenue growth.

Several ports exceeded their annual revenue targets, including Tacloban, Legazpi, Clark, Cagayan De Oro, and Ninoy Aquino International Airport (NAIA). Additionally, the BOC generated P2.71 billion from voluntary disclosure applications and post-clearance audits, while P13.238 billion in revenue from government imports was allocated to the Tax Expenditure Fund.

Digital payment innovations drive efficiency

In line with President Ferdinand R. Marcos Jr.'s Bagong Pilipinas initiative, the BOC implemented digital payment solutions in 2024 to streamline transactions and enhance efficiency.

The Electronic Payment Portal System (ePay), introduced under Customs Memorandum Order (CMO) No. 06-2024, allows stakeholders to pay taxes, customs duties, and fees online, reducing reliance on in-person transactions.

To further modernize its payment systems, the BOC partnered with LandBank of the Philippines, integrating its Link.BizPortal for seamless digital payments. Additionally, an updated Memorandum of Agreement with Maya Philippines Inc. enabled POS transactions, online payments, and Smart Padala services, ensuring greater accessibility for stakeholders.

With ongoing digital transformation efforts and increasing revenue targets, the BOC remains a key pillar of government funding, supporting infrastructure, social programs, and national development.