BOC collects P1.73-T in 2 years of Marcos admin

MANILA: The Bureau of Customs (BOC) on Tuesday reported that it has collected a total of PHP1.730 trillion in revenues during the first two years of the Marcos administration. In a statement, the BOC said this figure was collected from July 2022 to May 30 this year, translating to a 8.07 percent increase as compared to its target collection of PHP1.501 trillion for this period. This showed a surplus of PHP126.260 billion, it added. Customs Commissioner Bienvenido Rubio said the BOC is committed to upholding President Ferdinand R. Marcos Jr.'s vision and ensuring that the agency remains a vital contributor to the country's progress and development. 'The BOC continues to strive for robust collection performance to support the government's funding of national projects, strengthened border protection and simplifying trade processes,' it added. The BOC also thanked the President's mention of its efforts in his third State of the Nation Address, which included the seizure of over PHP2.7 billion worth of smuggl ed agri-fisheries products. The President also mentioned the forthcoming implementation of Administrative Order No. 23, which introduces pre-border technical verification and cross-border electronic Invoicing for import commodities. The Chief Executive said this aims to establish a more secure, harmonized, and streamlined trading environment, with the BOC at the forefront of its execution. (PNA) Source: Philippines News Agency