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Philippine customs collects over 8 bln USD in 2014

Xinhua, February 2, 2015 Adjust font size:

The Philippine Bureau of Customs' ( BOC) revenue collections rose by 21 percent to 369.044 billion Philippine pesos (8.37 billion U.S. Dollars) in 2014, a senior government official said Monday.

Customs Commissioner John Sevilla said this was based on the preliminary reports that his office collected.

He attributed the increase to the effort of BOC to curb smuggling, but acknowledged that much has to be done to improve the performance of BOC.

Sevila said that processing of documents by the importers and exporters should be accelerated to maximum of four hours by the end of this year.

In 2013, the BOC collected 304.926 billion Philippine pesos ( 6. 92 billion U.S. Dollars). Endi