Customs exceeds August collection goal by 2.8%

THE Bureau of Customs (BoC) on Thursday said it exceeded its August collection target by 2.8% even before the month’s end.

Customs Commissioner Yogi Filemon L. Ruiz said revenues have reached P60.524 billion, surpassing the P58.849-billion target for August by P1.675 billion.

This comes after a record single-month collection of P84.43 billion in July, which was attributed to increased imports and improved valuations due to higher global prices of oil and other commodities.

“The BoC has been surpassing its monthly collection targets since January, and is poised to sustain its consistently good performance record through the implementation of its enhanced reform programs,” the BoC said in a press statement.

In the year-to-date period ending Aug. 23, the BoC has collected P541.664 billion in revenues.

It is tasked to collect P733 billion this year, 8% higher than the initial goal of P679.23 billion. — Diego Gabriel C. Robles

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