Customs collections top P330B as of mid-May

THE Bureau of Customs (BoC) has collected P330.27 billion as of May 13, exceeding its target for the period.

Citing preliminary data, the BoC said collections were 3.9% ahead of target and up 7% from collections generated over the same period a year earlier.

The BoC also reported that it conducted 132 apprehensions in the first quarter with seizures valued at about P28.02 billion.

 “These seizures encompassed a range of items, including general merchandise, counterfeit goods, cigarettes/tobacco, and illicit drugs discovered at various ports,” it added.

The BoC marked 7.01 billion liters of fuel worth P908.52 billion for since the start of the fuel marking program in 2019 to May 9, 2024.

“The BoC remains committed to contributing to the Department of Finance’s goal of fostering national socio-economic growth by collecting additional revenue and safeguarding the country’s borders,” Customs Commissioner Bienvenido Y. Rubio said.

The BoC said it is also working with the World Bank on the next steps of the Customs Modernization Project as well as reforms to the value-added tax refund process.

This year, Customs is expected to generate close to P1 trillion in revenue. — Luisa Maria Jacinta C. Jocson