Sunday 21 October
Powered by Ajaxy
Nov 5, 2017 @ 15:42

All-time high: Customs collections surge to P42B in October

 

It’s another milestone for the agency.

The Bureau of Customs has collected P42.006 billion in duties in October, marking the highest monthly collection ever in the agency’s history.

In a statement, Customs Commissioner Isidro Lapeña said the initial report surpassed the P40.182 billion collected in September, and is a few million short of the P42.54 billion target set for the bureau.

“Although the month of October was marked with lesser number of working days and volume of imports, growth was still achieved because of increase in the value of imports brought by the higher exchange rate, oil price, and improved valuation and classification,” Lapeña said.

He added that the jump in collections showed that the reforms versus corruption and benchmarking have been “gaining ground” and reaping more revenues for the government.

Please follow and like us:

Tags: , , , , , , , ,

Related Stories
September's fresh increase may be the worst this year.
Philippine inflation jumped to an almost 10-year high in September, data showed Friday, putting pressure
When Swedish clothing giant H&M opened its first store in Ukraine earlier this month, thousands


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.