The Bureau of Customs expects increased revenue collections and improved services in Mindanao following the expansion of its facilities at the Phividec Industrial Estate in Tagoloan, Misamis Oriental.
The Bureau of Customs Sub-Port of Mindanao Container Terminal unveiled its new building at Phividec, which will house essential the Customs’ frontline offices in the area, including customer care center, sub-port collector’s office, assessment division, operations division, export division, piers and inspection division and other key departments.
Customs Commissioner Bienvenido Rubio cited the significant contribution of the Sub-Port of Mindanao Container Terminal, which accounts for more than 51 percent of the overall revenue collection of Collection District X.
The Phivedic Industrial Authority also re-affirmed its active partnership with the Bureau of Customs by donating 5,000 square meters of lot within the Phividec Industrial Estate through a usufruct agreement.
Rubio said that with Cagayan de Oro and Misamis Oriental as gateways, the Customs reinforced its position to cater to the growing economy of Northern Mindanao.
The Bureau of Customs earlier reported it collected P74.861 billion in duties and taxes in June 2023, exceeding by P140 million its assigned target of 74.721 billion for the month.
Based on the report from the Bureau of Treasury, the Custom’s June collection brought the agency’s total collections from January to June to P434.169 billion, up by P13.505 billion or 3.21 percent from the P420.66-billion assigned revenue target. The figure also reflected a P37.434 billion growth compared to the previous year.
The increase in revenue was achieved despite the challenges in importation volume, which fell 2.8 percent this year for high-value commodities.
It said while the volume of oil increased 9.9 percent this year compared to last year, the revenue from said commodity declined due to decreasing value of oil in the world market from as high as $1.1 per liter in June 2022 to $0.63 per liter average this month.