BOC Port of Cebu breaks record anew: Collects P4 B in July

By: Doris C. Bongcac - CDN Digital | August 05,2022 - 08:15 AM
Port of Cebu for story:BOC Port of Cebu breaks record anew: Collects P4 B in July

Bureau of Customs – Port of Cebu (BOC-Cebu) | Photo courtesy of BOC – Cebu

MANDAUE CITY, Cebu – For the first time, the Bureau of Customs Port of Cebu earned a total of P4 billion in revenues in just one month.

For July 2022, the Port of Cebu earned a total of P4.376 billion.  They exceeded the July target of P3.308 billion by 32.26 percent or P1.067 billion.

Its July revenues also exceed collections amounting to P3.968 billion for June “posting a P1.251 billion or 40 percent year-on-year growth,” BOC Port of Cebu said in a statement.

It added that the Subports of Mactan and Dumaguete also made significant contributions to their aggregate revenue as both also exceeded their collections targets for the month.

“This is the first time that the Port breached P4 Billion in its collection history,” District Collector Charlito Martin Mendoza said.

| Grabbed from BOC Port of Cebu FB page

Mendoza said their increased collections “energizes all of us to continue our strategies for maximizing collection, especially through correct valuation and classification, and strict review of importation documents to avert trade misinvoicing.”

The Port of Cebu has been able to consistently surpassed its monthly targets since January, posting a total of P24.568 billion in accumulated revenues.

Aside from giving credit to the hard work and dedication of the Port’s officers and personnel, Mendoza said, the cooperation and active participation of the different stakeholders also contributed to their collection efficiency.

Mendoza said stakeholders are always around to participate in port-initiated education campaigns aimed at keeping importers and brokers abreast with customs procedures as they also support compliance with customs regulations.

With the guidance of newly appointed Commissioner Yogi Filemon Ruiz, Mendoza said that the Port of Cebu will continue to intensify its revenue collection efforts.

They also commit to continue to strengthen trade facilitation and border protection measures to support the national government’s fiscal strategies toward full economic recovery.

/bmjo

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TAGS: BOC Port of Cebu, Cebu Daily News, cebu news, collections, July revenues, new record, P4 billion

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