BoC collects P330M at auctions

THE Bureau of Customs (BoC) generated P329.93 million from the auction and negotiated sale of seized and forfeited goods in the first five months of 2026, it said on Thursday.

In a statement, the agency said public auctions and negotiated sales are among its methods for disposing of confiscated goods while ensuring transparency and accountability.

“Rather than allowing these goods to deteriorate or lose value over time, they are properly assessed, sold, and converted into revenue,” the BoC said.

“The proceeds are remitted to the Bureau of the Treasury, enabling the government to recover value from forfeited assets and support public programs, infrastructure projects, and essential services for the benefit of the Filipino people,” it added.

BoC Commissioner Ariel F. Nepomuceno said proper documentation and accounting of auction proceeds are essential given their role in generating additional government revenue. — Justine Irish D. Tabile