BOC Hits Another Milestone As It Posted P42B As The Highest Collection In The History Of The Agency

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During the previous administrations, we know that the Bureau of Customs was the most corrupt government agency in the Philippines.

But, just like the many progress that President Duterte is implementing, BOC is one of those who had a face-lift. For the month of October, BOC just reached another milestone as they hit their record breaking P42-Billion collection.

Last August 30, Isidro "Sid" Lapena assumed the BOC Commissioner . Before he assumed the position, the BOC's average collection was P35 Billion, a far cry from what they have achieved for October.

Based on the Budget of Expenditures and Sources of Financing (BESF), the target collection of BOC was P42.540 billion. That means they were able to reach 98% of the target when they reached P42.006 billion from October.

Even if it was not 100%, it is still an achievement, given the fact that the BOC was able to break their record of P40.182 billion last September 2017. Both are still a far cry from the P35 billion average from the before.

Commissioner Lapena said that even if October was marked with lesser number of working days and volume of imports, their target was still achieved because of the increase of value of imports. These were brought about by the higher exchange rate, oil price and also the improved valuation and classification.
"Although the month of October was marked with lesser number of working days and volume of imports, growth was still achieved because of increase in the value of imports brought by the higher exchange rate, oil price, and improved valuation and classification."
One of the five priorities of Lapena when he assumed the position is to discontinue the bench marking of duties and taxes. Also that thye will adhere to the WTO Valuation Code and Classification of goods.

Source: PTV News
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BOC Hits Another Milestone As It Posted P42B As The Highest Collection In The History Of The Agency BOC Hits Another Milestone As It Posted P42B As The Highest Collection In The History Of The Agency Reviewed by Do It Write Solutions on 5:52:00 PM Rating: 5
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