The Bureau of Customs (BOC) expects potential foregone revenues of up to P12 billion should the suspension of rice imports extend until the end of 2025, Commissioner Ariel Nepomuceno said on the sidelines of the 2025 Business Summit organized by the Federation of Philippine Industries (FPI).
Nepomuceno said the import suspension, while beneficial in stabilizing local supply and prices, would significantly affect the agency’s revenue performance.
“For rice, our foregone revenues, assuming a 60-day suspension, would reach P6 billion to P8 billion. If it extends to three months, that could reach about P12 billion. Of course, we cooperate because the country has other benefits from that ban, but from the BOC’s point of view, that’s our foregone revenue,” he said.
Despite the potential shortfall, Nepomuceno expressed confidence that the agency could still meet its P990-billion full-year collection target through enhanced efficiency measures and stronger coordination with the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR).
“We regularly meet with Secretary Ralph Recto and the BIR so that our direction is aligned, especially in ongoing investigations. We compare notes and share documents to avoid overlap and ensure complementation,” he said, noting the tax collection in July 2025 reached P1.4 billion, the highest monthly collection so far.
Meanwhile, Nepomuceno added that discussions with the DOF and other agencies, including the Department of Justice, are underway to coordinate on the investigation of major contractors and importers suspected of irregularities.
Results of these talks may be known next week, he said, depending on additional directives from the DOF.
On the matter of anti-dumping measures, the BOC chief noted that the entry of zero-duty imported goods also affects the agency’s collection performance.
“For example, zero taxes and duties on imported items from the U.S. translate to over P30 billion in foregone revenues using last year’s data. We’re studying where we can recover these losses by strengthening collection efficiencies in other areas,” he said.
Nepomuceno said the BOC remains “optimistic but cautious,” noting that the outcome of the rice import suspension and other trade policies will determine the bureau’s fiscal performance for the rest of the year.
“We’re hopeful, but we have to wait for policy direction. Our focus is to maintain strong revenue collection even as we support broader government objectives,” he said.
