Port of Subic posts P22.4-B collection for 2018 » Manila Bulletin News

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Port of Subic posts P22.4-B collection for 2018

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By Betheena Unite

Port of Subic is ending the year on a high note after posting a record-breaking P22.4-billion revenue collection for 2018.

On December 23, the port has already surpassed its annual revenue collection target with P22 billion.

Three days before the year ends, the port further exceeded its P21.1-billion collection goal for the year by P1.2 billion.

According to district collector Rhea Gregorio, it is the “most significant milestone for the port after breaking past the P20-billion mark for the first time in the port’s history.”

Import duties and other taxes collected by Subic port were 37 percent higher than its last year’s collection of P16.3 billion, Gregorio said noting that strict implementation of customs laws resulted in an improved performance of the port.

“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 port was able to register P2.4-billion tax take in December which, according to Gregorio, significantly contributed to the port’s annual revenue collections.

It is higher by 28.5 percent or P544.6 million than the port’s revenue goal during the period in 2017.

Gregorio also stressed that “the revenue collected for the month of December is the highest monthly collection in the history of the port.”

The port was the fifth of seven ports to hit its annual revenue collection goal before the year ends.

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