‘Customs to breach P1 trillion revenue mark this year’

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February 14, 2026 | 12:00am

MANILA, Philippines — Finance Secretary Frederick Go expressed confidence the Bureau of Customs will finally breach the long-elusive P1-trillion revenue mark this year, citing sustained reforms, stronger inter-agency coordination and renewed leadership momentum within the bureau.

Speaking at the Bureau of Customs’ 124th founding anniversary, Go said the agency’s revenue target has remained out of reach in past years, but conditions are now in place for a breakthrough.

“The target of the BOC is to hit the P1-trillion mark. We have not been able to do it and the P1-trillion target has been elusive so far,” he said. “But I am very confident that this will be the year that we will hit the P1-trillion target.”

The finance chief underscored the critical role of the Bureau of Customs as the government’s second-largest revenue source, noting that its collections fund a significant share of national development spending.

Based on Customs data, the BOC posted collections of P80.74 billion in January, exceeding its target by more than P500 million.

In 2025, BOC collections rose by 1.9 percent to P934.4 billion from P916.674 billion a year ago. This is below its revenue target of P958.713 billion last year.

Go assured stakeholders that customs revenues are now being utilized more efficiently, while reforms are being pursued to improve the ease, cost and predictability of doing business.

Asked about the growth drivers behind the P1-trillion target, Go said the focus is on fully implementing long-standing reforms under the BOC’s new leadership.

“I have confidence in the new leadership of the Bureau of Customs. When I say leadership, everybody, not just one person,” he said. “I’m confident that this year is as good as any for us to be able to hit the P1-trillion target.”

He stressed that meeting the target is critical to fiscal management. “We have to hit the target if we want to maintain our fiscal deficit ratio,” Go said, adding that if the target is missed, the government would have to “make up for it through other revenue sources, other tax revenue sources or non-tax revenue sources.”

Customs Commissioner Ariel Nepomuceno said the P1-trillion goal is “challenging but reasonable,” provided macroeconomic assumptions hold.

“The economic assumptions are reasonable and doable as long as the economic assumptions will be there and not drastically change,” he said. “We’re taking the challenge and that’s a good mission.”

Internally, the bureau is targeting monthly collections of about P82 billion to P84 billion, with daily targets of P4 billion to P4.2 billion, he said.

Nepomuceno identified petroleum and agricultural products as the top revenue drivers, noting that tighter enforcement and stronger coordination among agencies have reduced leakages.

He said collaboration with other government agencies has improved significantly, allowing authorities to pursue not just smugglers on the ground but also “the mastermind operators, supporters, protectors and financiers.”

He also said the lifting of the rice import ban would help recover lost revenues estimated at P3 billion to P4 billion a month.

On currency movements, Nepomuceno said peso depreciation could temporarily boost collections through higher import valuations, but warned of potential volume declines if trade activity weakens.

“There’s a sweet spot there,” he said. “As long as the volume is maintained, we don’t rely too much on currency fluctuations.”

Despite uncertainties, both Go and Nepomuceno said the combination of policy reforms, digitalization and coordinated enforcement gives the BOC its strongest chance yet to finally breach the P1-trillion mark.