All-time high: Customs collections surge to P42B in October
It’s another milestone for the agency.
The Bureau of Customs has collected P42.006 billion in duties in October, marking the highest monthly collection ever in the agency’s history.
In a statement, Customs Commissioner Isidro Lapeña said the initial report surpassed the P40.182 billion collected in September, and is a few million short of the P42.54 billion target set for the bureau.
“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,” Lapeña said.
He added that the jump in collections showed that the reforms versus corruption and benchmarking have been “gaining ground” and reaping more revenues for the government.