The Bureau of Customs (BoC) has already exceeded its 2022 tax collection target as early as November, mustering an unprecedented P745.50 billion, reaching the agency’s highest annual collection to date.
Based on the bureau’s data, all 17 collection districts of the agency also hit their respective collection targets, garnering a surplus of 16.8 percent or P103.29 billion as of October 31.
The amount, which was recorded as early as Nov 11, was already 3.27 percent or P23.98 billion more than this year’s target of P721. 5 billion.
The collected revenue this year also surpassed pre-pandemic tax take, which was at P630.31 billion back in 2019.
Last year, the BOC collection stood at P645.765 billion while its 2020 collection amounted to P539.660.
“Commissioner Yogi Filemon Ruiz led the BOC in achieving the remarkable feat through the stringent implementation of his priority programs to curb smuggling and corruption, optimize revenue
collection, and digitalize and enhance customs operations,” the BOC said.
Ruiz has also streamlined customs processes to ease bottlenecks and promote local and international investments and efficient trade facilitation while preventing revenue leakages through heightened border security measures.
The BoC, an attached agency of the Department of Finance, said its priority programs were anchored on the eight-point socio-economic agenda of President Ferdinand Marcos Jr.