Customs Falls Short of August Target, Yet Sees Year-on-Year Growth

MANILA, Philippines — Revenue collection of the Bureau of Customs (BOC) fell short of its monthly target in August as weather disruptions dampened shipments, but still grew by nearly P4 billion from a year earlier. In a statement, the agency said it had generated P81.4 billion in August, 5 percent or P3.9 billion higher than the P77.3 billion collected in the same month last year. READ: BIR, BOC still upbeat on reaching 2026 goals This pushed up cumulative collections from January to August by 7 percent to P664.78 billion from the same period in 2025. The amount was also P5.47 billion above the BOC’s P659.31-billion target for the eight-month period. The latest figure now represents about 65 percent of the agency’s P1.011-trillion full-year revenue collection target. The BOC said the performance came despite weather disruptions that had resulted in nearly two weeks of suspended operations, leading to stalled unloading and processing of shipments across ports and collection districts. “This year’s performance reflects the commitment of our people to deliver, even in the face of challenges. Despite weather disturbances and work suspensions, our collection districts remained focused on their mission,” Customs Commissioner Ariel Nepomuceno said. “The P5.467-billion surplus we have sustained is a result of their hard work and dedication, as well as the continued trust and cooperation of our partner industries and stakeholders,” he added. READ: Gov’t cuts ’26 target tax take to P4.44T The BOC’s full-year collection target was earlier revised upward from P1.03 trillion, with Nepomuceno saying the adjustment likely reflected assumptions of a weaker peso, as the government now projects the exchange rate to average 61 to 62 against the dollar this year. As it is, the local currency has been extending its record-breaking slide for a week, opening at 62.20 against the dollar on Monday and reaching an intraday low of 62.77. Since imports are quoted in dollars, a weaker peso raises their peso value and, in turn, increases the customs duties and taxes collected on those imports. Breaking down the P1.011-trillion target, P655.89 billion is expected to come from value-added tax on imports, P243.318 billion from excise taxes, P96.175 billion from import duties and taxes and P15.6 billion from other fees. INQ