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Ghio Ong - The Philippine Star
February 16, 2025 | 12:00am
The BOC also attributed its higher revenue in 2024 to “various policies and initiatives to streamline payment processes and improve stakeholder experience” and lessen physical transactions that are supposedly more prone to corruption and red tape.
STAR / File
MANILA, Philippines — The Bureau of Customs earned more in 2024 with the implementation of streamlined processes and with its attached agencies generating more revenue.
In a statement yesterday, the BOC reported that it collected a total of P931.046 billion in revenues in 2024.
It noted “several ports, including Legazpi, Tacloban, Ninoy Aquino International Airport, Clark and Cagayan de Oro, exceeded their revenue targets for the year. The BOC also generated additional P2.710 billion in revenue through post-clearance audits and voluntary disclosures applications.”
The BOC also attributed its higher revenue in 2024 to “various policies and initiatives to streamline payment processes and improve stakeholder experience” and lessen physical transactions that are supposedly more prone to corruption and red tape.
Through Customs Memorandum Order No. 06-2024, the BOC established the Electronic Payment Portal System wherein payment of customs taxes, duties and other fees could be done online.
The BOC also entered into an agreement with the Land Bank of the Philippines “to utilize the Link.BizPortal for digital payment processing,” as well as another partnership with Maya Philippines Inc. to integrate its system for payments.
The BOC’s higher income for 2024 “was achieved by the BOC despite the lower 2024 baseline due to the impact of tariff reduction in rice and selected electronic vehicles, and deferment of priority reforms such as excise tax on pick-ups under the Capital Market Promotion Efficiency Act,” it noted.
