Philippines' customs revenue exceeds 2024 target by collecting ₱784.54B, up 6% year-over-year.

The Philippines' Bureau of Customs (BoC) has surpassed its revenue collection target for the first ten months of 2024, collecting ₱784.54 billion, a 6% increase from the same period last year. This success is attributed to efficient tax and duty collections, accurate verification of imported goods, and initiatives like the VAT refund program and fuel marking scheme. Despite initial concerns, the BoC's performance suggests the overall fiscal targets for the year may be met.

November 11, 2024
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