BOC logs 'highest monthly collection in history' with P76B in June 2022 | Inquirer News
Surpasses midyear collection target

BOC logs ‘highest monthly collection in history’ with P76B in June 2022

By: - Contributor / @inquirerdotnet
06:36 PM July 01, 2022
BOC launches i-Declare system for online baggage and currency declarations

Photo from the Bureau of Customs

MANILA, Philippines — For the month of June 2022, the Bureau of Customs (BOC) yet again recorded its highest monthly collection in history with P76.290 billion based on the preliminary report from the BOC Financial Service.

It surpassed its P56.287 billion target by more than 35.5 percent, or about P20.003 billion.

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Significantly, Customs broke its previous highest monthly collection record of P70.778 billion for March 2022.

The revenue collection for June also includes additional revenues from the Tax Expenditure Fund (TEF) amounting to P301 million and Post Clearance Audit Group (PCAG) collection of P115.97 million. These collection efforts also marked the 6th consecutive month that the BOC exceeded its monthly target and achieved positive collection this year.

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Source: Bureau of Customs. INQUIRER.net

Source: Bureau of Customs. INQUIRER.net

Based on its preliminary report, 14 of the 17 collection districts were able to surpass its corresponding collection targets namely: San Fernando, POM, MICP, Batangas, Legaspi, Iloilo, Cebu, Surigao, Zamboanga, Davao, Subic. Clark, Aparri, and Limay.

Moreover, the BOC surpassed its midyear target collection of P327.812 billion by P68.992 billion or +21.05%, with an actual collection of P396.804 billion since January 2022.

This year, BOC’s cumulative or midyear collection is also higher by +31.5% or P95.058 billion than the P301.746 billion midyear collection in 2021.

The BOC and its 17 collection districts under Commissioner Rey Leonardo B. Guerrero’s improved valuation of the bureau, its digitized and modernized systems, and the improving economy resulted in a higher volume of importations and the intensified collection efforts of all the collection districts.

RELATED STORY:

Customs collection exceeds 6-month target in 2021

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