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Customs posts P33-B surplus

The Bureau of Customs has recorded a surplus of 6.6 percent or P33.5 billion over its P506-billion target for 2020.

Based on the preliminary report of the bureau’s Financial Service, P539.66 billion was collected last year, reflecting 106.6 percent of the target collection of P506.15 billion.

BoC spokesperson Vincent Philip Maronilla said the targets were adjusted based on current economic conditions.

“We implemented some critical automation projects, monitored our collection very closely, improved our rate of assessment, and established a strong stakeholder engagement mechanism through our Customs Care Centers and BOC Cares program,” Maronilla said.

For December, the bureau exceeded its revenue target for the seventh consecutive month by 9.1 percent — a total of P47.31 billion was collected against its target of P43.36 billion for the month.

Out of the seventeen collection districts, ten also exceeded their targets for 2020. These are the Ports of Cebu, Tacloban, Surigao, Cagayan de Oro, Zamboanga, Davao, Subic, Clark, Aparri, and Limay.