MANILA, Philippines—The Bureau of Customs’ (BOC) tax take in the first half of 2021 not only grew year-on-year but also exceeded its target mainly as external trade picked up while global borders further opened up despite lingering risks from COVID-19.
In a statement on Thursday (July 1), the country’s second-biggest revenue agency said import duties and other taxes it collected from January to June reached P302.74 billion, 3.7-percent more than the six-month goal of P291.83 billion. The BOC consistently hit its monthly collection targets during the first six months of 2021.
Compared to 2020, when 75 percent of the economy froze due to the most stringent lockdown imposed at t…
Keep on reading: Customs collection exceeds 6-month target in 2021