Subic port post historic high in revenue goal by over P1-B

Subic port post historic high in revenue goal by over P1-B

Another Good news before the year ends.
It has been known how bad President Rodrigo Roa Duterte wants to eradicate the corruption in the Bureau of Customs, because he very well knows that it is one of the pillars of a strong and progressive economy to which we all aspire for.

Subic Port (photo credit to owner)

The Bureau of Customs (BoC)-Port of Subic just made the case of President Duterte stronger when there is no corruption in place, the Port of Subic just posted PHP22.4 billion revenues for this year, surpassing its annual revenue goal of PHP 21.1 billion or by PHP1.2 billion.
Atty. Rhea Gregorio, District Collector in Subic reported that as of December 28 of this year, that figure was the port’s highest ever collection.
“This is the most significant milestone for the port after breaking past the PHP20 billion mark for the first time,” she said.
The port reported an increase of 37% increase in the  import duties and other taxes collected compared to last year’s PHP 16.3 Billion.
Atty. Gregorio, credited the 2018 record breaking revenue performance to the strict implementation of customs laws and rules and regulations.
“This enabled the port to recover its deficit in the past three quarters and finish strong toward the last quarter of the year,” Gregorio said.
The tax take of the Subic Port this month significantly contributed to its annual revenue collections with the amount reaching PHP2.4 billion for the month.
The amount is higher by PHP544.6 million than the port’s revenue goal during the period or a positive growth of 28.5 percent.
"The revenue collected for the month of December is the highest monthly collection in the history of the port," she said.

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Report from PNA

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