The Bureau of Customs (BOC) has collected ₱15.494 billion worth of tax from 2.38 million metric tons of rice imported by private entrepreneurs in 2020.
In the Department of Finance (DOF) Executive Committee Hearing, BOC Commissioner Rey Leonardo Guerrero stated that the system of rice importation in the country has been boosted in the last year.
The report of the BOC also showed that the tax collection in 2020 has increased to 7% compared to that of 2019. The increase in the collection was caused by the good quality and weight of the imported rice under the Rice Tariffication Law. – PTV News
