MANILA, Philippine—Amid easing trade restrictions across borders, the Bureau of Customs’ (BOC) collections of import duties and other taxes during the first quarter of 2021 not only grew year-on-year but also surpassed its target.
In a statement on Monday (April 5) the BOC said its tax take from January to March amounted to P148 billion, exceeding the P134-billion program for the three-month period.
During the month of March alone, collections reached P54.5 billion, above the P47.7-billion goal. The BOC exceeded its monthly targets from January to March 2021.
Actual collections last month also climbed 22.1 percent from P44.6 billion a year ago.
As such, end-March collection…
Keep on reading: BOC first quarter collections rose to P148 billion