MANILA, Philippines – The Bureau of Customs (BOC) hit its collection target for 2018, with revenues reaching P585.542 billion, based on preliminary numbers.
The BOC said in a statement on Saturday, December 30, that its tax collection rate grew by 27.8% from last year’s total of P458.183 billion.
Preliminary data from the BOC’s financial service department showed that 14 out of 17 collection districts exceeded their annual collection targets. They are as follows:
The Manila International Container Port collected P165.075 billion, while the Port of Manila colleted P86.191 billion so far, about P2 billion from its collection target of P88.103 billion.
The Port of Ninoy Aquino International Airport, meanwhile, collected P40.85 billion against its revenue target of P46.171 billion.
“This feat is attributed to the strong collection performance of the 17 collection districts and the continuing support and cooperation of the men and women of the Bureau of Customs and of our stakeholders,” said BOC Commissioner Rey Guerrero.
He said the bureau will continue aiming to reach their revenue collection targets while at the same time ridding the BOC of corruption. (READ: Guerrero's next mission: Restore public trust in Bureau of Customs)
“We still need to strengthen our collection efforts and do better to achieve our goal of a consistent and enhanced collection performance,” said Guerrero.
The BOC said it has been exceeding its monthly revenue goals from February to September this year.
The Tax Reform for Acceleration and Inclusion Act (Train), which was implemented this year, also boosted BOC collections. – Rappler.com