10 January 2014

Subic collections up

SUBIC BAY FREEPORT—The Bureau of Customs registered revenue collections of P11.2 billion in 2013, up 77 percent from P6.3.billion in 2012, driven by strong duties and tax take.

Port of Subic District collector Arnulfo Marcos said tax collections in the last quarter of 2013 rose 110 percent to P3.30 billion from P1.57 billion year-on-year.

Marcos said the P11.2-billion collections 2013 exceeded the Freeport’s target of P6.15 billion by 83 percent.

He said July registered the highest monthly tax collection with P1.02 billion, or up 220 percent from P321 million on year, followed by December with P1.10 billion, up 149 percent from P442 million on year.

Marcos attributed the increased collections to the reforms institutionalized by his predecessors at the Port of Subic and the recent reconfiguration program and reshuffle of key frontline officials. (Cecille Garcia, Manila Standard)