Customs exceeds April target by 4%

THE Bureau of Customs (BoC) exceeded its April collection target by 4.2%, as the majority of its collection districts reported higher revenues despite tighter quarantine restrictions in Metro Manila and nearby provinces.

In a statement on Monday, BoC said preliminary data showed it collected P51.277 billion in April, P2.077 billion more than its P49.2-billion goal and 50% higher than the P33.97 billion in April 2020.

This marked the fourth consecutive month the bureau exceeded its monthly target this year.

Additional revenues included collections from the Tax Expenditure Fund (TEF) amounting to P121 million, and Post Clearance Audit Group (PCAG) with P13.65 million.

“Based on the preliminary report from the BOC-Financial Service, eleven out of the seventeen collection districts surpassed its April 2021 collection target; namely, the Port of San Fernando, Port of Manila, Manila International Container Port, Port of Iloilo, Port of Tacloban, Port of Surigao, Port of Zamboanga, Port of Davao, Port of Subic, Port of Aparri, and Port of Limay,” the agency said.

Using data from the April preliminary collection report, the BoC said it has collected P200.459 billion in the first four months of 2021, 9.4% higher than the P183.174-billion target and 11.5% more than the P179.7 billion during the same period in 2020.

“The bureau continues to improve its efficient collection performance through the improvement in volume of importation while maintaining border security and enhanced trade facilitation,” it said.

The BoC is hoping to meet its full-year revenue target of P616.7 billion this year, as the economy reopens.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top