The Bureau of Customs here is optimistic it will reach or even exceed its target revenue collection for this year with the increase in the government’s excise taxes, an official said on Thursday.
“With the second implementation of the TRAIN (Tax Reform for Acceleration and Inclusion) Law, and an increase in excise taxes for fuel importation, we are optimistic we can meet our target,” BOC Sub-port of Dumaguete collector Fe Lluelyn Toring said in an interview.
The BOC has set the target for Dumaguete at close to P5.8 billion for the entire 2020.
In 2019, the target collection at the start of the year was pegged at PHP3.8 billion but it was later adjusted to PHP4.3 billion.
The Dumaguete Customs office still managed to exceed the new target by 15.78 percent, with an actual collection of P5.06 billion, Toring said.
For January this year, records at the BOC-Dumaguete showed an actual collection of over P447 million against the P346-million target, or more than P100 million.
During a recent visit to the BOC office, executives from Filoil Energy Co.Inc., which remains to be the largest importer in the City, have announced some increase in their volume of importation this year, Toring said. (Judy F. Partlow/PNA)
