CEBU CITY – The Bureau of Customs Port of Cebu (BOC-Cebu) saw its tax collection in 2020 rise by 12.10 percent to PHP30.870 billion, surpassing its annual target of PHP27.539 billion.
BOC-Cebu posted a PHP3.331 billion annual revenue collection surplus, the biggest surplus ever recorded by the regional port.
BOC-Cebu acting district collector Lawyer Charlito Martin Mendoza noted the collective effort at the agency to not only exceed the revenue target but also streamline processes and make headways in its governance reforms.
The sub-ports in Mactan and Dumaguete also exceeded their annual collection targets and contributed to the aggregate revenue of the district.
The sub-port of Mactan, headed by collector Gerardo Campo, recorded a surplus of PHP73.856 million against its collection target of PHP861.350 million.
Meanwhile, the sub-port of Dumaguete, headed by collector Fe Lluelyn Toring, posted an excess of PHP801.508 million above its collection target of PHP4.36 billion.
BOC-Cebu consistently posted positive revenue collection performance for 10 consecutive months since March 2020.
For December, BOC-Cebu collected PHP2.993 billion, exceeding its assigned monthly collection target by PHP439 million and posting the highest monthly collection.
“We see this increase in collections as a sign of the resiliency of industries in the Central Visayas, and we hope this increasing trend is a sign of a recovering economy that would continue to 2021,” Mendoza said in a statement on Friday.
He cited the contributions of importers to the state’s revenue collection efforts and governance reforms.
The big chunk of the port’s revenue collection comes from importations of mogas, gasoil, iron and steel, coal, foodstuff, and electrical and telecommunications equipment.
Port of Cebu is one of the major ports in the country, contributing around 5 percent of the total revenue collection of the BOC, the state’s second-biggest tax collecting agency. (PNA)
Source: Philippines News agency