DUMAGUETE CITY – The target collection of the Bureau of Customs (BOC) Sub-port of Dumaguete City has been raised this year by more than half of last year’s target due to the government’s comprehensive tax reform program.
Dumaguete Customs Collector Fe Lluelyn Ganir Toring disclosed in an interview Wednesday afternoon that their 2018 target collection is pegged at PHP2.235 billion, about 80 percent higher than last year’s target.
The 2017 target was set at PHP1.303 billion, which the Dumaguete Customs Office had exceeded by the end of the year.
According to Toring, the agency had increased Dumaguete Sub-port’s target revenue collection this year due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
She explained that because of the TRAIN Law, the Bureau of Customs is anticipating a rise in the collection of revenues because the corresponding taxes for importation will also go up.
Toring disclosed that her office has already imposed the increase in taxes based on the TRAIN Law adjustments.
There are products which previously did not have excise tax but because of the TRAIN Law, the Bureau of Customs would now have to collect the same from these products on top of the VAT, she said.
In fact, the local Customs Office has already started collecting excise tax this year, she added.
Meanwhile, as of March 9 this year, the Dumaguete Customs Sub-port has already collected a little over PHP508.6 million in revenues.
It is expecting about PHP40 million more in collectibles for March, Toring said. (Mary Judaline Partlow/PNA)
