The Bureau of Customs on Friday said its total revenue collections last year rose by 34 percent on an annual basis to a record high of P862.929 billion on the back of higher imports and better system of collection.
THE Bureau of Customs on Friday said its total revenue collections last year rose by 34 percent on an annual basis to a record high of P862.929 billion on the back of higher imports and better system of collection.
“It was the first time in the BOC’s history that all ports exceeded their annual collection targets per the BOC Financial Service,” the bureau said in a statement. “The Group bolstered the BOC Post Clearance Audit and Post Modification through the Computer-Aided Risk Management System , which was implemented in August 2022. The system provides critical information for traders to measure and improve Customs compliance,” it added.“The public auction of seized, forfeited, or abandoned containers generated additional revenues for the government and decongested the ports of the Bureau for more efficient trade facilitation,” it said.
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