Power companies boost BOC October collection

CEBU, Philippines - Duties and taxes paid by several power plants boosted revenues of the Bureau of Customs – Cebu, as it exceeded its target collection for the third quarter by over P150 million.

Data released by BOC- Cebu assessment chief Carlos Corsiga showed that the bureau collected P652,932,422.03 last month, an excess of P150,932,422.03 to its target collection of P502 million.

Last month’s collection paved the way for the bureau to earn a total of P5,080,017,496.27 from January to October this year, gaining an excess of P333,577,496.26 compared to the total collection of P4,746,440,000.00 from the same period last year.

Estelita Nario, chief of BOC-Entry Processing Unit, said power companies like Kepco, Global Power and the National Power Corporation have paid millions to the bureau as payment of its tax and duties for their capital equipment and raw materials. Atlas Mining has also paid in millions for its tax and duties to the bureau for its importation.

“These four are the big taxpayers at malaki talaga ang binabayaran nilang taxes and duties,” Nario said.

Corsiga said the bureau’s positive collection is attributed to the efficient tax collection and teamwork among the personnel.

“We are happy that we posted a positive collection and we are still working hard and doing our best to eventually meet our annual target,” Corsiga said.

In January, the district has an assigned target of P395 million but it collected P418,377,383.10 or higher by P23,3777,383.10. The following month, its actual collection reached P400,978,487.86 or P9,978,487.86 higher than its target collection of P391 million.

In March, its actual collection was P474,124,196.67, slightly higher by P124,196.67 or 0.03 percent as compared to its P474 million target.

In April, BOC posted a much lower collection surplus of P13,565,969.16, as it was able to collect P489,765,969.16, higher than its P485,200,000 target collection for the said month.

For May, surplus in its collection continued to dwindle as BOC was able to collect P511,110,685.04, albeit still higher by P2,470,685.04 as compared to its P508,640,000 assigned target for the month.

Collection in June, which totaled P534,982,475.10 remained is higher by P13,982,475.10 against its P521 million assigned target.

The following month, BOC collected P509,046,311.80 against the P477,400,000 target collection.

A total of P526,549,551.89 was collected for the month of August, which is P24,549,551.89 higher than its assigned target of P502 million.

In September, BOC exceeded its target by P62,810,715.62 after it collected P553.010,715.62, higher than its target collection of P490.2 million. — Mitchelle L. Palaubsanon/JMO   (FREEMAN NEWS)