BOC logs highest monthly collection at P76.29-B in June

Aside from the revenue collection, last month’s revenue also included the Tax Expenditure Fund (TEF) amounting to PHP301 million and the Post Clearance Audit Group (PCAG) collection of PHP115.97 million. (File photo by PhotoPhilia (Wikipedia Takes Manila participant) – Uploaded from Wikipedia Takes Manila, CC BY-SA 3.0)

MANILA – The Bureau of Customs (BOC) has recorded so far its highest monthly collection in history, with a total of PHP76.29 billion collection for the month of June.

Based on the preliminary report from the BOC Financial Service released Friday, the collection last month surpassed its target of PHP56.287 billion by 35.5 percent, or PHP20.003 billion.

It added that the June 2022 collection broke the previous highest monthly collection record of PHP70.778 billion for March 2022.

Aside from the revenue collection, last month’s revenue also included the Tax Expenditure Fund (TEF) amounting to PHP301 million and the Post Clearance Audit Group (PCAG) collection of PHP115.97 million.

This is the sixth consecutive month the BOC exceeded its monthly target and achieved positive collection this year.

The report also revealed that 14 of the 17 collection districts of San Fernando, Port of Manila, Manila International Container Port, Batangas, Legaspi, Iloilo, Cebu, Surigao, Zamboanga, Davao, Subic. Clark, Aparri, and Limay surpassed their corresponding collection targets.

On the other hand, the bureau also surpassed its midyear target collection of PHP327.812 billion by PHP68.992 billion or 21.05 percent with an actual collection of PHP396.804 billion since January 2022.

Its cumulative or midyear collection this year is also higher by 31.5 percent or PHP95.058 billion than the PHP301.746 billion midyear collection in 2021.

Commissioner Rey Leonardo Guerrero attributed the collection performance to the improved valuation of the bureau, its digitized and modernized systems, the improving economy resulting in higher volume of imports, and the intensified collection efforts of all collection districts.