BoC exceeds March collection target

The Bureau of Customs said Wednesday that it collected P84.43 billion in March, exceeding the P83.24-billion collection target set for it by 1.4% during the month.

Citing preliminary data, the BoC said collections last month were also 5.1% higher year-on-year.

Commissioner Ariel F. Nepomuceno said that the increase in collections will directly translate into better public services, funding for infrastructure, and support for social programs.

To further improve services, the BoC said it will continue advancing reforms anchored on digitalization, transparency, and ease of doing business.

Quoting Finance Secretary Frederick D. Go, the BoC said that efficient revenue collection and institutional integrity play an important role in sustaining economic growth and ensuring that government resources are maximized. — Justine Irish DP Tabile