BOC-Cebu exceeds 2015 revenue target

CEBU, Philippines -  The Bureau of Customs in Cebu has surpassed its 2015 revenue target collection by close to P1 billion.

Conrado Abarintos, chief of BOC-Cebu Collection Division, said that the Port of Cebu exceeded by P923.3 million in its annual target of P15,605,460,000. According to Abarintos, a total of P16,528,815,000 was collected in Cebu.

Abarintos said that the excess in collection was due to rice importation and taxes and duties paid by the power plants on their importation of heavy machineries and equipment.

According to him, the government collected around P300 million in taxes and duties for rice importation while around P750 million from the solar/ power energy consignees.

Abarintos said that aside from rice importation and heavy equipment/machineries importation, the Port of Cebu was also able to collect huge amount of taxes and duties from importation of construction materials.

“The construction industry in Cebu is booming. That’s why we have collected a substantial amount of taxes and duties from this sector,” Abarintos added.

 This year the BOC-Cebu has an assigned target collection of P19,464,184,000. (FREEMAN)