DUMAGUETE CITY – Filoil Energy Co., Inc. remains as the top source of revenue for the Bureau of Customs here having paid more than PHP2 billion despite the government’s imposition of Republic Act 10963, better known as the Tax Reform for Acceleration and Inclusion (TRAIN) law.
Latest records at the Bureau of Customs subport of Dumaguete show that from January to June 30 this year, Filoil already paid close to PHP2.2 billion in Value Added Tax (VAT) and Excise Tax, said Fe Lluelyn G. Toring, Dumaguete Customs Collector, on Wednesday afternoon.
For the same period last year, Filoil also topped the list of importers here, contributing more than PHP1.3 billion in taxes, she said.
According to Toring, even with the imposition of the TRAIN law, Filoil continued to increase its volume of importation of petroleum products because of its apparently growing market.
For the first six months of this year, Filoil’s volume of importation was pegged at 161,652,356 kilograms of petroleum products.
Not only does the oil company cater to the needs here, it also has markets outside of Dumaguete, to include other parts of the Visayas and elsewhere, Toring said.
She also noted that aside from Filoil, other importers such as DUCOMI (for palm olein) and Pryce Gas, Inc. (for liquefied petroleum gas) have also contributed to the revenues of the subport of Dumaguete.
The actual collections of the BOC here as of June 17 already reached more than PHP2.3 billion, representing about 60 percent of the office’s PHP3.8-billion target collection for the year 2019, she said.
Toring is optimistic they will reach or surpass this year’s target with only about PHP1.4 billion in revenues remaining to be collected until December. (PNA)
