THE Bureau of Customs (BoC) said it surpassed its collection target for January with revenue of P65.801 billion in the Jan. 1-27 period.
Collections had exceeded the target by 11% four days before the end of the month, it said in a statement.
The total was also 13.2% higher than the year-earlier collection.
For 2023, Customs hopes to collect P901.3 billion.
This includes P570.3 billion in value-added taxes from imports, P207.4 billion worth of excise taxes, P105.1 billion in import duties and P18.5 billion from other fees.
This year’s collection target is 24.9% higher than the P721.5-billion target set in 2022.
Last year, Customs reported that collections hit P862.929 billion according to preliminary data, exceeding the target by 19.6%.
Customs Commissioner Yogi F. Ruiz said the agency is working on “stringent measures to counter illicit trade and fraud while improving trade facilitation and increasing lawful revenue collection.” — Luisa Maria Jacinta C. Jocson
