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Bureau of Customs

Benise Balaoing

ABS-CBN News

<p>MANILA -- <span data-darkreader-inline-bgcolor="" data-darkreader-inline-color="" id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important;--darkreader-inline-color:#c8c3bc;--darkreader-inline-bgcolor:#181a1b">The Bureau of Customs (BOC) has collected almost P615 billion in the first eight months of the year.</span></p><p>In a statement, the BOC said it collected P614.781 billion from January to August, exceeding its target for that period of P609.592 billion.</p><p>The Customs bureau said the figure is 5.7 percent higher than the P581.491 billion it collected in the same period in 2023.</p><p>The BOC noted, however, that collections in August only reached P78.908 billion--or 2.52 percent lower than the P80.945 billion target, because of the lower tariffs on rice. </p><p>&quot;<a href="https://news.abs-cbn.com/business/2024/6/4/neda-board-to-reduce-rice-tariffs-to-15-pct-from-35-pct-until-2028-1444" rel="noopener noreferrer" target="_blank">Executive Order (EO) 62</a>, which reduced the rice tariff from 35 percent to 15 percent, accounted for a PhP2.353 billion revenue loss,&quot; the Customs bureau said.</p><p>The BOC also said <a href="https://news.abs-cbn.com/business/2024/5/16/e-motorcycles-e-bikes-now-also-zero-tariff-until-2028-as-ph-eyes-ev-shift-1216" rel="noopener noreferrer" target="_blank">bringing motor vehicle tariffs to zero</a> caused a P1.034 billion drop in collections.</p><div><a href="https://news.abs-cbn.com/business/2024/5/17/electric-vehicle-group-welcomes-wider-zero-tariff-coverage-for-evs-2011" rel="noopener noreferrer" target="_blank">Electric Vehicle Association welcomes expanded zero tariff coverage for EVs</a></div><div><span data-darkreader-inline-color="" id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important;--darkreader-inline-color:#e8e6e3">Customs earlier said it targets to collect P1 trillion in 2024, exceeding its more than P900-billion revenue last year.</span></div><div><span id="isPasted"><a href="https://news.abs-cbn.com/business/2024/7/8/customs-exceeds-first-half-collection-target-2050" rel="noopener noreferrer" target="_blank">Customs exceeds first half collection target</a></span></div><div><span id="isPasted"><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/RQwoATiFlRs?autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></span><br/></div>

<p>The Bureau of Customs has collected almost P615 billion in the first eight months of the year. </p>

The Bureau of Customs has collected almost P615 billion in the first eight months of the year.

Customs collections reach almost P615 billion | ABS-CBN

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Customs collections reach almost P615 billion

Customs collections reach almost P615 billion

Benise Balaoing,

ABS-CBN News

Published Sep 06, 2024 04:11 PM PHT

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