Up next
Tags

The Philippine Bureau of Customs (BOC) has failed to hit its 2012 collection target, preliminary data released by the agency showed.

The agency collected P287.65 billion for 2012 or 17.1% below the target of P347.07 billion. Of the total, cash collections represented P282.2 billion and tax expenditure fund or paper revenues from imports of government agencies, P5.452 billion.

The total does not include collection from the Port of Manila, Manila International Container Port, Port of Cebu and some outports. For 2013, BOC is tasked to collect P397 billion, 14.41% more than the P347 billion target for 2012.

Image courtesy of Danilo Rizzuti / FreeDigitalPhotos.net

You May Also Like

Bill allowing multiple docking by foreign vessels hurdles bicameral committee

A congressional bicameral committee has approved a bill that will allow foreign shipping lines to dock at multiple Philippine ports and co-load import and…
  • June 8, 2015
  • 3 minute read

PPA bars Manila North Harbour from engaging in international trade

Manila North Harbour Port, Inc. (MNHPI) may not handle foreign trade at its North Harbor facility because its contract is for the provision of…
  • June 22, 2016
  • 3 minute read

Lack of infra, onerous processes hinder ASEAN economic integration

Inadequate physical facilities, cumbersome procedures, and varying international business standards are the major stumbling blocks in sustaining the free flow of goods among Association…
  • November 8, 2017
  • 3 minute read

BOC formalizes tracking, control procedures for container movements

The Bureau of Customs (BOC) has issued guidelines and procedures for the monitoring and control of the movement of all containers, whether loaded or…
  • July 15, 2019
  • 4 minute read