DoF sees BoC collections rising in 2nd half

By Justine Irish D. Tabile, Senior Reporter

THE DEPARTMENT of Finance (DoF) expects government reforms and stronger economic activity in the second half to lift the Bureau of Customs’ (BoC) revenue collections for the rest of 2026.

“I am optimistic. With the reforms we have put in place and the expected strength of the economy in the second half of 2026 will drive the performance of the agency,” Finance Secretary Frederick D. Go told BusinessWorld.

His remarks came after the BoC exceeded its June revenue target despite the government’s temporary suspension of excise taxes on kerosene and liquefied petroleum gas (LPG).

The BoC collected P86.07 billion in June, surpassing its P83.22-billion target by 3.4%. The figure was also 11.7% higher than the P77.04 billion collected in the same month last year.

The June outturn marked an improvement from May, when the agency fell short of its target following the suspension of excise taxes on kerosene and LPG.

Soaring global oil prices amid the Middle East conflict prompted the government to place the country under a one-year state of national energy emergency until March 2027.

To cushion the impact of higher fuel prices, the government suspended excise taxes on kerosene and LPG for three months beginning in mid-April.

In the first half, BoC collections rose 7.2% to P491.75 billion from P458.77 billion a year earlier. The amount also exceeded the P480.27-billion target for the period by 2.4%.

The first-half collections accounted 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.

In an earlier interview with BusinessWorld, DoF Revenue Integrity Protection Service Undersecretary Rolando T. Ligon, Jr. said the BoC remains on track to meet its full-year target, with import volumes expected to pick up starting in September.