The Bureau of Customs (BOC) exceeded its revenue goal for October, while it also reported its recent seizure of abandoned cigarettes worth P2.5 billion.
In a statement yesterday, the BOC said it generated P89.5 billion last month.
The agency surpassed its monthly collection target of P86.1 billion by 3.9 percent or P3.4 billion.
The BOC said this growth underscores the dedication in ensuring accurate duty and tax collections through rigorous verification of imported goods’ values and classifications.
It also reflects contributions from the value-added tax refund program and the strict fuel marking initiative.
Additionally, P3.35 billion was collected from tax credit certificates, significantly boosting overall revenue.
Enhanced partnerships with other government agencies played a key role, as well as streamlining procedures and supporting secure trade facilitation, the bureau said.
Year-to-date, the BOC’s preliminary actual collection performance of P784.54 billion posted a six percent increase compared to the same period last year, resulting in an additional P44.45 billion over the P740.1 billion collected in 2023.
The cumulative collection from January to October 2024 exceeded the Development Budget Coordination Committee’s target of P779.99 billion by 0.6 percent, achieving a surplus of P4.55 billion.
“We are resolute with our commitment in strengthening our collection capabilities and promoting fiscal growth. Our efforts are directed toward driving sustainable development and advancing our nation’s economic resilience,” BOC commissioner Bienvenido Rubio said.
Meanwhile, in a separate statement, the bureau said the BOC-Port of Cagayan de Oro captured abandoned cigarettes with an estimated value of P2.5 million.
A warrant of seizure and detention was issued on November 4 against 10,750 reams of undocumented cigarettes discovered in an abandoned container van onboard a ten-wheeler truck in Brgy. Puntod, Cagayan de Oro City, on October 24.
The container van held 215 master cases of Modern-brand cigarettes, totaling 10,750 ream.
The cigarettes were seized for violating Sections 1113 (f)(l) and 117 of the Customs Modernization and Tariff Act (CMTA), due to the absence of the required Import Commodity Clearance from the National Tobacco Administration.
The vehicle used to transport the goods was also seized for violating Sections 1113 (a) and (k) of the CMTA for carrying the smuggled cigarettes.
“This operation demonstrates our ongoing efforts in mitigating the dangers of illicit cigarettes. We will continue to collaborate with our partners in enforcement to ensure proper legal procedures are followed and hold those responsible accountable,” Rubio said.
