Go ‘confident’ BoC will hit P1T in revenue

FINANCE Secretary Frederick D. Go said he is confident the Bureau of Customs (BoC) will collect P1 trillion in revenue this year, citing the impact of reforms and new leadership.

“Customs is likely to collect P1 trillion in revenue this year, for the first time,” Mr. Go said in his speech during the BoC anniversary observance on Thursday.

“I am very confident that this will be the year that we will hit the P1-trillion target,” he said.

Mr. Go’s forecast indicates that the BoC is being pressed to achieve its P1.003-trillion target this year, after falling short in 2025.

“I hope that we have put in all the reforms needed that have long been espoused. I have confidence in the new leadership of the Bureau of Customs,” he said.

The BoC generated P934.4 billion in revenue in 2025, against a goal of P958.7 billion, after the midyear freeze on rice imports dented its collections.

Assistant Commissioner Vincent Philip C. Maronilla has said that the agency was ahead of the target pace in January, buoyed by favorable foreign exchange rates and the lifting of the rice import ban.

At the same event, Customs Commissioner Ariel F. Nepomuceno said the over P1-trillion revenue target is both a “challenge” and a “good mission.”

“Kaya naman (it can be done),” if the economic assumptions are reasonable, he said.

In addition, Mr. Nepomuceno pointed to agriculture and petroleum products as the main drivers expected to raise import volumes, in turn boosting collections.

He added that the resumption of rice imports after a three‑month suspension will provide a boost, reinforcing Customs’ confidence in hitting targets.

He also noted the importance of inter‑agency cooperation, citing the need to collaborate more closely with the Philippine National Police on monitoring the border, which will help stem revenue leakage.

Non‑traditional income sources, such as proceeds from auctioned seized vehicles, will further boost collections, he said.

Mr. Nepomuceno cautioned that there is a “sweet spot” that the peso needs to hit, warning that while a weaker peso can inflate tariff revenues, it may also dampen trading activity and import volumes.

“As long as (import) volumes are maintained,” he said, citing the inadvisability of pinning hopes on currency movements. — Aubrey Rose A. Inosante