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Subic Port November collections hit record

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Subic port

THE BUREAU of Customs (BoC) said the Port of Subic collected a record P2.347 billion in November, exceeding its target by 12.75%, and nearly doubling the year-earlier collections of P1.21 billion.

This was the third consecutive month that Subic beat its monthly revenue target, according to the BoC.

“Subic has been consistently hitting all-time highs since the assumption of young lawyer and district collector Ma. Rhea M. Gregorio,” the BoC said.

“Port of Subic remains committed in its drive to collect revenues and be vigilant in its efforts to prevent smuggling and the commission of fraudulent and illegal acts,” Ms. Gregorio was quoted as saying.

The BoC official attributed its performance to the assessment of proper taxes, higher tax rates due to the Tax Reform for Acceleration and Inclusion law, and a weaker peso.

Subic is a major entry point for oil imports. — Elijah Joseph C. Tubayan