BOC collections up 16.9% in first quarter
Friday, 15 June 2012
THE Bureau of Customs (BOC) on Thursday yesterday said that revenue collections for the first quarter of the year surged to P24.935 billion or 16.9 percent higher compared to the same period in 2011.

“So far BOC has been posting a positive growth over previous year’s collections.” Customs Commissioner Ruffy Biazon said in a text message. But the BoC chief noted that forgone Customs revenues are estimated to hit P85 billion this year on account of various free trade agreements that have taken effect, saying that it’s about time that the government review the agency’s mandate with respect to raising revenues.

Biazon is still optimistic that they could recover substantial revenues when its online inspection system takes place within the year, as the project will make the screening of imported cargoes available for viewing 24/7.
 

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