The Bureau of Customs (BOC) has chalked up a revenue collection of P68.274 billion for April, surpassing its target of P68.199 billion.
“This is a 3.97 percent increase from last year’s collection of P65.669 billion for the same period,” BOC Commissioner Bienvenido Rubio said.
The agency’s total revenue collection for the first four months of 2023 reached P281.902 billion, overshooting its target P265.220 billion by 6.29 percent or P16.682 billion. This year’s collection was also 10.89 percent higher than the previous year’s collection of P254.226 billion for the same period.
The BOC attributed its high collection performance to higher rate of assessment, which was mainly due to improved valuation of non-oil importation, according to the Revenue Collection Monitoring Group Financial Service.
The BOC’s consistent increase in revenue collection was a positive development for the Philippine government, as it strives to generate revenue to fund its various programs and projects.
In addition, the BOC recorded its highest daily collection for the year on April 30, amounting to over P7.51 billion. This is an encouraging indication of the agency’s continued efforts to improve its collection performance.
“We will continue to uphold our commitment to transparency, accountability, and service excellence as we strive to meet our revenue targets and contribute to the growth and development of our country,” Rubio said.
The BOC remains optimistic on achieving its revenue targets for the rest of 2023.
