Finance Secretary Carlos G. Dominguez III has directed the Bureau of Customs to keep a tighter watch over the possible misdeclaration or misclassification of pork shipments entering the country amid tightness in the supply of pork. In a statement, Dominguez warned that importers may attempt to...
Finance Secretary Carlos G. Dominguez III has commended the Bureau of Customs for its better-than-expected revenues last year while ensuring the free flow of goods and redoubling its campaign against smuggling. During the Customs anniversary celebration last Tuesday, Dominguez said the...
The Bureau of Customs’ frontline transactions are now fully automated, the Department of Finance (DOF) said. In a statement, the DOF said that Customs secured a 100-percent accomplishment rate in 2020 on its target to modernize the agency’s frontline services despite the operational challenges...
Government revenues from the private traders’ rice importations rose last year due to higher tariff rates and volume, data from the Department of Finance (DOF) showed. Based on the Bureau of Customs report submitted to the DOF, the country’s total rice imports reached 2.38 million metric tons...
The government’s two main tax agencies have surpassed their respective collection goals last year, which the economic managers lowered in the wake of the coronavirus-induced economic crisis. Preliminary data from the Department of Finance (DOF) showed that the Bureau of Internal Revenue...
The Duterte administration’s budget deficit breached the P1 trillion mark in November due to higher spending and lower revenues amid the coronavirus-induced economic recession, data from the Bureau of the Treasury revealed. The national government incurred a P1.069 trillion fiscal gap in January...
The government seized an estimated P9.52 billion-worth of smuggled goods since January this year, more than half of which came from illicit cigarettes, the Bureau of Customs said. In a report submitted to Finance Secretary Carlos G. Dominguez III, Deputy Customs Commissioner...
The Bureau of Customs wants to collect several tax deficiencies uncovered in a post-clearance audit of cooperatives that imported rice since last year, the Department of Finance (DOF) said. In a statement, the DOF quoted Customs Commissioner Rey Leonardo Guerrero as saying that a post-clearance...
Government debt stock breached the P10 trillion mark in October amid unprecedented borrowings for the coronavirus response, data from the Bureau of the Treasury showed. Total outstanding debt of the national government stood at P10.028 trillion as of October this year, up by 26.8 percent compared...
The Duterte administration’s budget deficit is nearing the P1 trillion mark in January to October this year as the government continued to struggle in raising revenues due to the coronavirus-induced crisis. Data from the Bureau of the Treasury showed the national government incurred a P940.6...
The national government’s tax effort slipped in the first nine-months of the year after the coronavirus-induced crisis dragged down the Bureau of Internal Revenue (BIR) and Bureau of Customs collections....
Cement importers disputed claims by local cement manufacturers that importation of this construction material dramatically shoot up saying domestic manufacturers are using false data to justify their petition before the Department of Trade and Industry to delay the reduction of the safeguard duty...
