Port of Subic posts record November revenue collection » Manila Bulletin News

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Port of Subic posts record November revenue collection

Updated

By Betheena Kae Unite

The Port of Subic exceeded its revenue target for the month of November with an all-time high collection the Bureau of Customs (BOC) announced.

Records showed that Port of Subic collected P2.347 billion last month, the highest collection in its history.

It surpassed its revenue goal by P265.429 million or 12.75 percent, District Collector Ma. Rhea Gregorio said.

Gregorio attributed the improvement in the port’s collection performance to the port’s proper and correct duties and taxes assessment on import shipments.

The implementation of tax reform law that imposed fuel excise tax hike and the higher exchange rate were also among the factors that helped them in hitting the target, she furthered.

The officials also said that this is the third consecutive time that the port was able to hit its monthly revenue target this year.

In October, Subic Port collected import duties and taxes amounting to P2.182 billion, higher than its P2.095-billion revenue target for the month.

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