The target collection of the Bureau of Customs (BOC) Sub-port of Dumaguete City rose this year by more than half of last year's target due to the government’s comprehensive tax reform program.
Dumaguete Customs Collector Fe Lluelyn Ganir Toring said their 2018 target collection is pegged at PHP2.235 billion, about 80 percent higher than last year’s.
The 2017 target was set at PHP1.303 billion, which the Dumaguete Customs Office had exceeded by the end of the year.
Toring said the agency had increased Dumaguete Sub-port’s target revenue collection this year due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Because of the TRAIN Law, she said, the Bureau of Customs is anticipating a rise in the collection of revenuesas the corresponding taxes for importation will also go up.
Toring said her office has already imposed the increase in taxes based on the TRAIN Law adjustments.
There are products that previously did not have excise tax but because of the TRAIN Law, the Bureau of Customs will now have to collect from these products on top of the VAT, she said.
In fact, the local Customs Office has already started collecting excise tax this year, she added.
Meanwhile, as of March 9 this year, the Dumaguete Customs Sub-port has already collected a little over PHP508.6 million in revenues.
It expects about PHP40 million more in collectibles for March, Toring said.*PNA
back to top