The Bureau of Customs (BoC) said on Wednesday it exceeded its target for a ninth consecutive month in September, amid improved collection and higher duties on oil.
In a statement, the BoC said September collections hit P79.5 billion, surpassing the target of P61.9 billion by 28.4%. This is the ninth month in a row that it has exceeded its monthly target.
“This shows an increase of P21.9 billion in revenue earned and a 38.1% collection improvement compared to last September,” the BoC said.
In the January to September period, the BoC collected P638.7 billion, exceeding its collection target for the period by 17.8%.
Year-on-year, customs collections increased by 35.9% as oil prices rose sharply.
As of late September, the BoC has already collected 88.5% of its P721.5-billion target for this year.
The BoC urged all its offices and collection districts to sustain its performance throughout the year by taking advantage of its modernization programs and reform initiatives of the Marcos administration.
The BoC is set to implement an online payment system through selected banks this month called the Philippine Clearing House Corp. Payment Application Secure System Version 6.0.
Last month, Budget Secretary Amenah F. Pangandaman said P3.56 billion of the proposed 2023 national budget will be allocated for digital transformation programs of the BoC and the Bureau of Internal Revenue.
The BoC was given a collection target of P765.59 billion for 2023, an increase of 6.11%. — DGCRobles