The Bureau of Customs (BOC) is the second largest collector of taxes. Almost 20% of annual tax revenues is collected by the BOC through its enforcement of the Tariff and Customs Code (TCCP) and the Tax Code (NIRC). Aside from revenue generation, the BOC also helps in trade facilitation and border security. It has the authority to supervise and control the entrance and exit of vessels and aircrafts engaged in foreign trade to prevent smuggling and fraud.>>read complete document
