BOC continues to rake in surplus collection

THE Bureau of Customs (BOC) under Commissioner Bienvenido Rubio continues to rake in surplus collection for the first 5 months of the year after overshooting its collection target for the month of May by over P2 billion.

Assistant Commissioner and agency spokesman, Atty. Vincent Maronilla, citing from the report from the Financial Service, said actual cash collection for the month totaled P81.753 billion against the assigned target of P79.62 billion for a positive deviation of 2.68 percent equivalent to P2.132 billion.

He added that year-on-year, the May collection also surpassed the P77.926 billion last year or a growth of 4.91 percent equivalent to P3.827 billion.

From January to May 2024, the BOC’s cumulative collection reached P381.347 billion, exceeding the target of P366.047 billion set for the first five months of the year.

The year-to-date collection is also equivalent to a 6.13 percent revenue growth, equivalent to P22.039 billion, compared to the same period in 2023.

Maronilla credited the BOC’s sustained revenue collection performance is their continuous monitoring of the values and classifications of imported commodities to ensure accurate duty and tax collection.

Non-traditional sources, like audits and public auctions, also boosted revenue collection.

Intensified border control and improved trade facilitation further contributed to consistent revenue efficiency.

“These efforts not only increase tax collection but also deter smuggling and illegal activities, leading to higher revenue collection,” the official added.

Meanwhile, Rubio said the agency is ready to heed Pres. Marcos Jr.’s instruction to implement a 24/7 shipment process, saying they recognize the imperative need for round-the-clock operations to accommodate the increasing influx of shipments into the ports.

“Achieving a seamless 24/7 operation requires collaborative support from all stakeholders in the supply chain.

“This includes shipping lines, arrastre operators, terminal operators, warehouse facilities, financial institutions, and the trucking industry.

“These stakeholders play a vital role in ensuring efficient cargo release, encompassing several stages: pre-customs, customs proper, and post-customs processing stages, each crucial for efficient trade facilitation,” the customs chief explained.

Rubio said the BOC shall endeavor to coordinate with their stakeholders so that appropriate mechanisms are established for the effective implementation of the President’s directive.

“With the commitment of all parties involved, the bureau is confident in achieving uninterrupted processing of imports as envisioned by the President,” he added.