Manila: The Bureau of Customs (BOC) announced on Saturday that it collected PHP931.04 billion in revenues for 2024. In a statement, the bureau said it successfully achieved its revenue targets despite challenges caused by the impact of tariff reductions on rice and selected electronic vehicles, and the deferment of priority reforms, such as the excise tax on pickup trucks under the Capital Market Promotion Efficiency Act.
According to Philippines News Agency, several ports, including Legazpi, Tacloban, Ninoy Aquino International Airport, Clark, and Cagayan de Oro, contributed to the annual collection after exceeding their revenue targets. The BOC also generated PHP2.71 billion in revenue through post-clearance audits and voluntary disclosure applications.
These revenues, it said, play a vital role in national development, funding essential public services aligned with President Ferdinand R. Marcos Jr.'s Bagong Pilipinas vision. To enhance efficiency and improve stakeholder experience, the bureau introduced digital payment initiatives in 2024.
This includes the Electronic Payment Portal System (ePay), established under Customs Memorandum Order 06-2024, allowing stakeholders to pay customs duties and taxes online. The BOC also strengthened its digital payment system through partnerships with LandBank's Link.BizPortal and Maya Philippines, Inc., integrating secure and seamless online transactions into their operations.
