The Bureau of Customs (BOC) saw higher revenue collection in May amid strengthened anti-smuggling efforts and the streamlining of trade facilitation procedures.
In a statement on Friday, the BOC reported a total collection of P77.793 billion last month, exceeding its target of P72.350 billion by 7.52%, or P5.443 billion.Year-to-date, the BOC has collected P359.175 billion, overshooting its target for the January–May period of P345.943 billion by 3.82%, or P13.232 billion.
"Additionally, on May 4, 2023, BOC uncovered around 1,350 kiloliters of smuggled diesel fuel worth P54 million from twelve compartments of the vessel ‘MV Veronica-1’ at the sub-port of Sual in Pangasinan," it added. The World Bank Logistics Performance Index ranked the Philippines 43rd among 139 countries, highlighting advancements in trade facilitation.
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