CEBU CITY – The Bureau of Customs in Cebu said its tax collection in 2020 rose by 12.10 percent and reached P30.87 billion, surpassing its annual target of P27.539 billion.
BOC-Cebu posted a P3.331 billion annual revenue collection surplus, the biggest surplus ever recorded by the regional port. BOC Cebu Acting District Collector Charlito Martin Mendoza noted the collective effort not only exceeded the revenue target, but also streamlined processes and made headways in its governance reforms.
The sub-ports in Mactan and Dumaguete also exceeded their annual collection targets and contributed to the aggregate revenue of the district. The sub-port of Mactan, headed by Collector Gerardo Campo, recorded a surplus of P73.856 million against its collection target of P861.350 million. And the sub-port of Dumaguete led by Collector Fe Lluelyn Toring posted an excess of P801.508 million above its collection target of P4.36 billion.
BOC-Cebu consistently posted positive revenue collection performance for 10 consecutive months since March 2020. For December, BOC-Cebu collected P2.993 billion, exceeding its assigned monthly collection target by P439 million and posting the highest monthly collection.
"We see this increase in collections as a sign of the resiliency of industries in the Central Visayas, and we hope this increasing trend is a sign of a recovering economy that would continue to 2021,” Mendoza said, citing the contributions of importers to the revenue collection efforts and governance reforms.
The big chunk of the port’s revenue collection comes from importations of mogas, gasoil, iron and steel, coal, foodstuff, and electrical and telecommunications equipment. The Port of Cebu is one of the major ports in the country, contributing around 5 percent of the total revenue collection of the BOC, the state’s second-biggest tax collecting agency. (Carlo Lorenciana)
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