BOC surpasses July collection target by 5%

The Bureau of Customs (BOC) said Tuesday it has exceeded its July collection target by 5% despite the underlying effects of the COVID-19 pandemic and stringent community quarantine to the overall trading environment.

In a statement, the BOC said it collected P50.072 billion last month, higher by 5% or P2.398 billion against its goal of P47.674 billion.

Citing reports from its Financial Service, the BOC said 10 of the 17 collection districts exceeded their target for the month, led by the Port of Aparri, followed by the Port of Tacloban, Port of Limay, Port of Zamboanga, Port of Cagayan de Oro, Port of Davao, Port of Clark, Port of Cebu, Port of Batangas, and Port of Subic.

The BOC attributed its positive revenue collection performance to the improved valuation and volume of importation, coupled with the intensified collective effort of all ports.

In addition, the increase can also be attributed to the government’s effort in ensuring the unhampered movement of goods domestically and internationally considering the pandemic situation, the Customs said.

Despite the above-target collection, the BOC noted that it maintains its border security measures against undervaluation, misdeclaration and other forms of technical smuggling and collect lawful revenues. -MDM, GMA News