With the improved tax collections of the Bureau of Customs, Senator JV Ejercito said the government may no longer need to increase taxes on oil and beverages under the proposed Tax Reform for Acceleration and Inclusion.
“I consider it as a strong argument against the TRAIN the recent developments where the BoC [Bureau of Customs] collected P42 billion worth of import duties and taxes last October,” said Ejercito.
He said the collection is the highest take in a month in the bureau’s history. He also said the Bureau of Internal Revenue netted over P138 billion in September, which was higher than its P130.12 billion goal for the month.
He said this is an indication that we can raise revenues even without increasing the taxes or imposing new ones. Macon Araneta
“I also commend the BOC for successfully confiscating undervalued luxury cars at the MICP (Manila International Container Port) worth P107 million,” said Ejercito.
If we only improve our tax and duties collections and tighten the noose on smugglers through a serious and sustained anti-smuggling campaign, which we definitely can, Ejercito said we will be able to generate the revenues that we need.
With the improved tax collections of the Bureau of Customs, Senator JV Ejercito said the government may no longer need to increase taxes on oil and beverages under the proposed Tax Reform for Acceleration and Inclusion.
“I consider it as a strong argument against the TRAIN the recent developments where the BoC [Bureau of Customs] collected P42 billion worth of import duties and taxes last October,” said Ejercito.
He said the collection is the highest take in a month in the bureau’s history. He also said the Bureau of Internal Revenue netted over P138 billion in September, which was higher than its P130.12 billion goal for the month.
He said this is an indication that we can raise revenues even without increasing the taxes or imposing new ones.
“I also commend the BOC for successfully confiscating undervalued luxury cars at the MICP (Manila International Container Port) worth P107 million,” said Ejercito.
If we only improve our tax and duties collections and tighten the noose on smugglers through a serious and sustained anti-smuggling campaign, which we definitely can, Ejercito said we will be able to generate the revenues that we need.