Bureau of Customs Reports Strong Revenue Collection in January

Bureau of Customs
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The Bureau of Customs (BoC), one of the government’s largest tax agencies, has announced that it is on track to meet its revenue targets for the year. In January alone, the agency collected a total of P106 billion, surpassing its target collection for the month. This achievement demonstrates the efficiency and effectiveness of the BoC in revenue collection.

During a news forum in Quezon City, Customs Deputy Commissioner Michael Fermin expressed his optimism about the agency’s performance. He attributed the success to the BoC’s commitment to efficient revenue collection, particularly in light of the higher target set by the Development Budget Coordination Committee (DBCC). The DBCC, an interagency body under the National Economic and Development Authority, is responsible for setting the government’s macroeconomic assumptions.

Looking back at the previous year, Fermin highlighted the BoC’s impressive revenue collection of P883.62 billion, surpassing the annual target of P874.166 billion for 2023. This achievement reflects the dedication and hard work of the BoC in fulfilling its mandate.

In addition to revenue collection, the Bureau of Customs has been actively involved in border control and protection, trade facilitation, and the filing of cases against individuals and companies engaged in illegal activities. Fermin reported that the agency conducted a record-breaking 980 successful seizure operations, with a total monetary value of P43.3 billion. Counterfeit goods accounted for more than 50 percent of the seizures, including fake bags, shoes, and other items. Illegal drugs amounted to P7 billion, while agricultural products and general merchandise made up the rest.

The Bureau of Customs has also been proactive in dealing with smuggling cases. In the previous year, the agency filed 90 criminal cases before the Department of Justice, with 60 of them related to agricultural smuggling. This year, an additional 13 cases have been filed, further emphasizing the BoC’s commitment to combating illegal activities.

President Ferdinand Marcos Jr. has directed the BoC to fully embrace digitalization in line with his vision for streamlined processes. Fermin revealed that the agency has already achieved 97 percent compliance with the digitalization of its core processes. This significant progress signifies the BoC’s dedication to modernizing its operations and enhancing trade facilitation.

The success of the Bureau of Customs in meeting its revenue targets and combating illegal activities is a testament to the agency’s commitment to its mandate. Through efficient revenue collection, border control, and trade facilitation, the BoC plays a crucial role in ensuring the integrity of the country’s customs processes. As the agency continues to embrace digitalization and streamline its operations, it is well-positioned to contribute to the growth and development of the nation’s economy.

In conclusion, the Bureau of Customs’ impressive revenue collection and ongoing efforts in border control and trade facilitation demonstrate its commitment to fulfilling its mandate. With its focus on efficiency and modernization, the BoC is poised to contribute to the country’s economic growth and development.

Source: The Manila Times

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