MANILA: The Bureau of Customs (BOC) has exceeded its revenue collection target for the first half of the year after posting a surplus of over PHP13 billion. Based on its latest data released on Monday, the BOC has collected a total of PHP456.053 billion from January to June, higher by 3.03 percent from its target of PHP442.621 billion for this period. This amount also posted a surplus of PHP22.621 billion year-on-year, from the total midyear collection of PHP433.433 billion logged in 2023. For June 2024, the BOC collected PHP75.159 billion, surpassing the monthly target by 0.92 percent or PHP685 million, maintaining a streak of six consecutive months of exceeding revenue goals. In a statement, Commissioner Bienvenido Rubio attributed the revenue performance to the collective efforts of BOC personnel, enhanced valuation methods, ongoing digitization and modernization of systems, and the strict monitoring and collection of deferred payments of government importations. "This achievement is a testament to th e BOC's commitment to efficient revenue collection and combating illicit trade activities. Our efforts not only strengthen fiscal stability but also support crucial national development initiatives, including infrastructure projects, education, healthcare, and national security enhancements,' he added. Rubio also noted that additional revenue collected which helped the BOC meet its target includes PHP1.749 billion from audit findings and voluntary disclosures, PHP88.118 million from public auction proceeds at various ports, and PHP5.706 billion from the Tax Expenditure Fund. Source: Philippines News Agency