Bureau of Customs Achieves PHP931 Billion Revenue Target for 2024

MANILA – The Bureau of Customs (BOC) disclosed on Saturday that it amassed PHP931.04 billion in revenue throughout 2024. Despite facing hurdles such as tariff cuts on rice and certain electronic vehicles, and delays in implementing key reforms like the excise tax on pickup trucks as outlined in the Capital Market Promotion Efficiency Act, the bureau met its financial goals. Several ports, including Legazpi, Tacloban, Ninoy Aquino International Airport, Clark, and Cagayan de Oro, played a significant role in surpassing their individual revenue targets, contributing to the overall collection. Additionally, the BOC earned PHP2.71 billion from post-clearance audits and voluntary disclosures. These funds are crucial for national development, supporting vital public services in line with President Ferdinand R. Marcos Jr.’s Bagong Pilipinas vision. To boost efficiency and enhance the experience for stakeholders, the BOC rolled out digital payment solutions in 2024. This included the launch of the Electronic Payment Portal System (ePay) under Customs Memorandum Order 06-2024, enabling online payment of customs duties and taxes. The bureau further fortified its digital payment infrastructure through collaborations with LandBank’s Link.BizPortal and Maya Philippines, Inc., ensuring secure and smooth online transactions.