CEBU CITY – The Bureau of Customs – Port of Cebu has posted a surplus in revenues with 10 more working days before the end of the collection year, said Cebu Customs District Collector Elvira Cruz.
As of December 12, BOC-Cebu’s collection surpassed the 2018 target by PHP370.780 million, said Collection Division Chief Conrado Abarintos in his collection report submitted to Cruz’s office.
The port was able to earn PHP27.806 billion, more than the target collection assigned to it by the BOC central office, which is PHP27.436 billion, the report showed.
"We are able to surpass the 2018 target (collection) by at least 1.35 percent. That is despite the fact that we still have 10 more working days before we enter another collection year,” Cruz told the Philippine News Agency in an interview.
The port’s 2018 revenue collection posted as of December 12 is also PHP6.9 billion higher than the revenue collected in 2017, the collection report said.
According to Cruz, the revenue collection efforts of the two subports of Mactan and Dumaguete have contributed much in the collection performance of the Port of Cebu.
The November 2018 collection report of the Sub-port of Mactan showed that it was able to post a 20.03-percent surplus when it collected PHP819.228 million as against the assigned target of PHP682.497 million.
In the same collection report, the Sub-port of Dumaguete posted a 40.91 percent surplus. It was able to collect PHP2.9 million which is higher than the PHP2.058-million target.
Abarintos thanked the Assessment Division’s efficiency in fulfilling its valuation and classification mandates under the new customs law, the Customs Modernization and Tariff Act of 2016.
The chief of the Collection Division of BOC-Cebu said the enforcement and intelligence arm of the bureau is very active in the campaign against smuggling.
"We are watchful in our port against smuggling,” he said.
Cruz said she is also thankful for the contribution of Cebu’s business community in the revenue collection effort in her area of responsibility.
The Port of Cebu released a list of top 20 importers, which have contributed to its 2018 collection performance.
Seaoil Philippines Inc. tops the list, followed by Steelasia Manufacturing Corp. and Ecossential Foods Corp.
The power sector in Cebu has also a huge collection input, paying millions of pesos of duties and taxes to the government. This sector is led by Kepco SPC Power Corp. in Naga City, Cebu, and the Cebu Energy Development Corp.
Two cement factories – Apo Cement Corp. and Taiheiyo Cement Philippines Inc. – have also contributed to the revenue collection effort of the port.
Mining firm Carmen Copper Corp. is also a major contributor to colletion of duties and taxes of the BOC-Cebu.
Joyland Industries Corp. Cagayan Corn Products Corp., Chioson Development Corp., Cebu Overseas Hardware Co. Inc., A.D. Gothong Manufacturing, Nitos International Ventures Inc., Virginia Food Inc., Dairy Milk Corp., Universal Robina Corp., Mondelez Philippines Inc., International Pharmaceuticals Inc., and Treasure Island Industrial Corp. are also listed as among the top importers. (PNA)