BOC retains double-digit surplus in September

THE Bureau of Customs (BOC) continues to maintain its double-digit surplus collection in the first two months under acting commissioner Yogi Filemon Ruiz, garnering a surplus collection of P17.6 billion for the month of September. Ruiz formally assumed the top customs post last July 25, 2022.

Based on the data provided by the Financial Service, the agency’s actual collection reached P79.5 billion, for a 28.4 percent increase from its monthly target of nearly P62 billion.

Although the surplus collection is slightly lower from the posted surplus of more than P20 billion for the month of August, the September collection is still P1 billion more from the actual collection in August of P78.92 billion.

The September figure is also 38.1 percent higher or a surplus of P21.9 billion for the same month last year.

Year-to-date, the BOC has already collected P638.7 billion in total revenues, 17.8 percent above its target for the period, which is also equivalent to P168.9 billion or 35.9 percent positive deviation for the same timeline in 2021.

The BOC registered its highest monthly collection in the month of July, the last month of Ruiz’s predecessor, Comm. Rey Leonardo Guerrero, after it posted actual collection of P84.424 billion for a surplus of P23.639 billion, which is 38.9 percent more than its assigned target of P60.785 billion.

The record July collection is yet to be duplicated or surpassed.