The Bureau of Customs (BOC) has collected P784.54 billion in duties and taxes from January to October 2024.
In a statement, the bureau said that this amount marked a robust 6% increase compared to the same period last year, resulting in an additional P44.445 billion over the P740.095 billion collected in 2023.
The cumulative collection from January to October 2024 exceeded the Development Budget Coordination Committee’s target of P779.990 billion by 0.6%, achieving a surplus of P4.550 billion based on the actual collection performance of the Collection Districts.
Meanwhile, for October 2024 alone, BOC collected P89.502 billion, surpassing its target of P86.102 billion by 3.9%, or P3.400 billion.
Additionally, P3.35 billion was collected from tax credit certificates, significantly boosting overall revenue. Enhanced partnerships with other government agencies played a key role, as well as streamlining procedures and supporting secure trade facilitation.
“We are resolute with our commitment in strengthening our collection capabilities and promoting fiscal growth. Our efforts are directed toward driving sustainable development and advancing our nation’s economic resilience, ” BOC chief Bien Rubio said.
