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Posts tagged with "Bureau of Internal Revenue"

Dominguez leads Philippine Tax Academy board

Dominguez leads Philippine Tax Academy board

Sep. 25 | Finance Secretary Carlos Dominguez III has been appointed ex-officio chairperson of the Governing Board of the Philippine Tax Academy (PTA) by President Rodrigo Duterte, according to the Department of Finance (DOF). Customs Commissioner Rey Leonardo Guerrero...

BOC Jan-Aug collection exceeds target by 5%

BOC Jan-Aug collection exceeds target by 5%

Sep. 14 | The Bureau of Customs (BOC) has collected P347.6 billion in revenues from January to August 2020, higher by 5.13% than the P330.63-billion target for the period. For August alone, BOC and sister agency Bureau of Internal Revenue (BIR) also surpassed their...

Fuel marking program yields P126.5B in first year

Fuel marking program yields P126.5B in first year

Sep. 8 | The first live marking of petroleum products occurred at the Seaoil Bulk Terminal in Mabini, Batangas in August 2019 | Photo from the Bureau of Customs The Philippine government collected P126.51 billion in duties and taxes in the first year of the fuel...

Oil firms to pay fuel marking fees from Sept 4

Oil firms to pay fuel marking fees from Sept 4

Sep. 3 | Image by lebone from Pixabay From September 4, 2020, the Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR) will start collecting from oil companies a fuel marking fee for all manufactured, refined and imported petroleum products. During the...

COVID-19 pulls down BOC revenues by 7.29% from Jan to April

COVID-19 pulls down BOC revenues by 7.29% from Jan to April

May. 20 | Bureau of Customs Port of Manila building. Photo courtesy of World Customs Organization. Revenues collected by the Bureau of Customs (BOC) from January to April 2020 dropped 7.29% to P179.44 billion from P193.55 billion year-on-year. Preliminary data...

More than 7B liter fuel marked over 7 months

More than 7B liter fuel marked over 7 months

Apr. 28 | Fuel marking at the Jetti Petroleum, Inc. Bataan Terminal last February 2020. A total of 7.042 billion liters of imported petroleum products in refineries and terminals nationwide was marked from September 2019 to April 23, 2020 as part of the country’s...

BOC first-quarter collection falls 12.8% short of target

BOC first-quarter collection falls 12.8% short of target

Apr. 22 | The Bureau of Customs (BOC) collected P145.41 billion from January to March 2020, a slight improvement of 2.28% over last year’s P142.17 billion, but 12.76% lower than its target of P166.69 billion. With most economic activities in Luzon grinding to...

Random field tests on imported fuels to start mid-Feb—BOC

Random field tests on imported fuels to start mid-Feb—BOC

Feb. 3 | Bureau of Internal Revenue (BIR) Strike Team chief Sonny Advincula, BIR director Beverly Milo, Bureau of Customs (BOC) assistant commissioner Atty. Vincent Philip Maronilla, and BOC deputy commissioner Teddy Sandy Raval in a press briefing on January...

BIR sets Jan 15 deadline for gas stations to submit inventory declaration

BIR sets Jan 15 deadline for gas stations to submit inventory declaration

Jan. 8 | Image by Clker-Free-Vector-Images from Pixabay To prepare for the conduct of field testing under the Philippine government’s fuel marking program, the Bureau of Internal Revenue (BIR) has ordered its revenue district offices (RDO) to require all gasoline...

Draft Customs order on provisional goods declaration out

Draft Customs order on provisional goods declaration out

Dec. 9 | Image from Pixabay. The Bureau of Customs (BOC) has released the draft customs memorandum order (CMO) providing guidelines for the lodging and processing of provisional goods declaration under its formal entry system. Stakeholders have until December...