BOC Cebu exceeds P27.4 billion target collection

CEBU, Philippines —  The Bureau of Customs Cebu exceed its annual target of P27.436 billion for 2018 as the office has collected more than P1.6 billion more.

Conrado Abarintos, chief of the Collection Division of BOC-Cebu, said that as early as the first week of December, they already hit the target with the combined collection of the sub-ports in Mactan and Dumaguete City.

BOC-Cebu was able to collect more than P29. 12 billion from January to December  this year which is almost P9 billion more than the collection of P20.9 billion last year.

He said that taxes paid by importers for fuel has a big factor in their collection this year with the implementation of the Tax Reform for Acceleration and Inclusion Act or Republic Act 10963 that imposes excise tax of petroleum products, automobiles, sweetened beverages, cosmetic procedures, coal, mining and tobacco.

"Daku gyud ang gitabang sa mga taxes paid due to the implementation of the TRAIN law," said Abarintos.

Abarintos cited that the Port of Dumaguete hit its target collection and even has a surplus of P800 million because of the taxes paid for oil importation alone.

"Ang biggest bulk of importation for Dumaguete Port is oil. Mao daku gyud sila og na collect nga taxes," Abarintos said.

He added that in Cebu, steel, coal and construction materials still comprise the biggest bulk of importation.

"Ang coal importation usa sa mga daku ang nakabayad og daku nga taxes because we have power plants here and also construction  materials and steel because of our booming construction industry," Abarintos said.

He added that other importations that helped their tax collection were the rice and frozen meat products.

"Dili kaayo hinoon daku ang rice importation but the frozen meat kusog na gyud iyang importation since September and even until January of next year because of our Sinulog event," said Abarintos.

Abarintos added that they have already proposed a ten to 12 percent increase target collection from its collection performance in the preceeding year.

"Based on our previous years collection, ang Cebu mao ra gyud na ang usual increase mga ten to 12 percent but it is up to the economic managers to approve it," Abarintos further said. — MBG (FREEMAN)