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The Bureau of Customs has exceeded its revenue target for the fifth straight month.In a news release on Tuesday, the BOC reported a collection of P81.753 billion in May, surpassing its target of P79.621 billion by 2.68%, or a surplus of P2.132 billion.Compared to the same month last year, the Customs’ revenue grew by 4.911% from P77.926 billion.Year-to-date, the BOC ’s collection stood at P381.347 billion, above the target of P366.047 billion for the January to May period.
The BOC credited the sustained revenue collection performance to continuous monitoring of the values and classifications of imported commodities to ensure accurate duty and tax collection.Non-traditional sources, like audits and public auctions, also boosted revenue collection, it said.The Customs added that intensified border control and improved trade facilitation further contributed to consistent revenue efficiency.
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