The Bureau of Customs (BoC) has set an ambitious target of achieving a trillion-peso revenue collection by 2024. This goal, slightly higher than the P959-billion target assigned by the Department of Finance (DoF), poses a significant challenge for the agency.
Customs Commissioner Bienvenido Rubio acknowledged the difficulty of collecting P1 trillion, stating that it is P41 billion higher than the DoF’s set target. However, he expressed optimism, emphasizing that with hard work and the collective support of officials and employees in the bureau, this goal could be achieved. It is important to note that Rubio’s personal goal is to reach this figure.
To enhance revenue collection for 2024, the bureau has devised a comprehensive plan. One of the key strategies is to increase collections by 15 to 20 percent through various initiatives. These include vigilant monitoring, continuous improvement of modernization projects, and intensified efforts against smuggling. The aim is to streamline grade facilitation and reduce human intervention.
Among the initiatives, the Enhanced Value Reference Information System (e-VRIS) plays a crucial role. This tool serves as a critical risk assessment mechanism, safeguarding government revenues and facilitating trade. By leveraging technology and data analysis, the BoC aims to identify potential risks and take proactive measures to prevent revenue loss.
Additionally, the BoC is actively working on implementing an ICT-enabled clearance system for express shipments. This system will streamline the clearance process, making it more efficient and reducing delays. The bureau is also in the process of drafting Customs Administrative Orders (CAO) and Customs Memorandum Orders (CMO) specifically tailored for e-commerce. These measures are aimed at preventing revenue leakages and ensuring fair trade practices in the digital economy.
The BoC’s commitment to achieving a trillion-peso revenue collection reflects its dedication to fulfilling its mandate of protecting government revenues and facilitating legitimate trade. The bureau recognizes the importance of staying ahead of evolving trends and challenges in the global trade landscape. By embracing technological advancements and implementing effective risk assessment tools, the BoC aims to create a more efficient and transparent customs environment.
It is worth noting that the BoC’s revenue collection target is not only crucial for the agency but also for the overall economic development of the country. The revenue generated through customs duties and taxes contributes to funding essential government programs and services. Achieving the trillion-peso goal will not only strengthen the financial stability of the government but also enable it to invest in infrastructure, healthcare, education, and other key sectors.
In conclusion, the Bureau of Customs has set an ambitious target of collecting a trillion pesos in revenue by 2024. With a comprehensive plan in place, including the use of technology, vigilant monitoring, and streamlined processes, the bureau aims to enhance revenue collection and combat smuggling effectively. This commitment reflects the BoC’s dedication to its mandate and the overall economic development of the country.
Source: The Manila Times