Tag: Revenue Collection
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BIR to Annihilate PHP2.1 Billion in Illicit Cigarettes Across the Philippines
The Bureau of Internal Revenue (BIR) has announced plans to obliterate PHP2.1 billion worth of illegal cigarettes at 12 different locations from February 24 to 28, 2025. This massive operation will see the destruction of 14.3 million packs of illicit cigarettes, which carry a tax liability of PHP6.4 billion, along with the machines used to…
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January Sees Surge in Tax and Customs Revenue, Finance Secretary Applauds Efforts
In a notable financial uptick, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) reported increased collections for January 2025, according to the Department of Finance (DOF). The BIR’s collections soared to PHP350.6 billion, marking a 13.7% increase from the previous year’s January figures. Similarly, the BOC saw its collections rise by…
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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…
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Davao City Surpasses Revenue Goals with PHP13.4 Billion in 2024
In a remarkable financial achievement, Davao City has reported a revenue collection of PHP13.4 billion for the year 2024, surpassing the set target of PHP12.7 billion, according to the City Treasurer’s Office (CTO). This figure represents a 4.5 percent increase over the previous year’s collection, as stated by Lawrence Bantiding, the officer-in-charge at the CTO.…
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President Marcos Urges Bureau of Customs to Champion Public Welfare and Integrity
President Ferdinand R. Marcos Jr. marked the 123rd anniversary of the Bureau of Customs (BOC) with a strong call for its officials and staff to prioritize the public’s welfare and operate with utmost integrity. Speaking at the Philippine International Convention Center in Pasay City, Marcos emphasized the BOC’s crucial role in advancing the nation’s progress…
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Cagayan de Oro Customs Office Exceeds January 2025 Revenue Goal by P77 Million
The Bureau of Customs at the Port of Cagayan de Oro announced a significant overachievement in its revenue collection for January 2025, surpassing its target by PHP77.1 million, which equates to a 2.68 percent increase over the set goal. According to a statement released on Tuesday, District 10 Collector Arthur Sevilla Jr. revealed that the…
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Iloilo City Surpasses 2023 Revenue Goals, Leads Western Visayas
Iloilo City has outdone its revenue collection objectives for 2023, set by the Bureau of Local Government Finance (BLGF), with a collection efficiency of 113 percent. This achievement has positioned the city as the leading highly urbanized city in Western Visayas. The city’s assessor and treasurer’s offices were instrumental in collecting PHP2.43 billion, exceeding the…
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