The Department of Finance (DoF) is optimistic about the Bureau of Customs' (BoC) revenue collections for the rest of 2026, citing government reforms and stronger economic activity in the second half.
Finance Secretary Frederick D. Go expressed confidence in the agency's performance, saying that the reforms implemented and the expected economic strength in the second half will drive the BoC's revenue growth.
The BoC exceeded its June revenue target, collecting P86.07 billion, a 3.4% increase from its P83.22-billion target. This figure is also 11.7% higher than the P77.04 billion collected in the same month last year.
The improvement in June collections comes after the agency fell short of its target in May, following the suspension of excise taxes on kerosene and liquefied petroleum gas (LPG). The government had suspended these taxes to cushion the impact of soaring global oil prices amid the Middle East conflict.
The BoC's first-half collections rose 7.2% to P491.75 billion, exceeding its target of P480.27 billion by 2.4%. The amount accounts for around 49% of the BoC's P1-trillion revenue goal for 2026.
The Development Budget Coordination Committee recently lowered its revenue projection for 2026 to P4.81 trillion from P4.82 trillion previously. However, the DoF remains optimistic about the BoC's ability to meet its full-year target, with import volumes expected to pick up starting in September.
