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Posts tagged with "Department of Finance"

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...

BOC confiscates P2.2B in smuggled goods at various ports

BOC confiscates P2.2B in smuggled goods at various ports

Aug. 17 | Bureau of Customs-Davao representatives inspecting the seized smuggled cigarettes | Photo from BOC-Davao About P53 million worth of cigarettes declared as tissue paper were among a total of P2.2 billion in smuggled products seized in various ports from...

Gov’t earns P92B from fuel marking program

Gov’t earns P92B from fuel marking program

Aug. 4 | The first live marking of petroleum products occurred at the Seaoil Bulk Terminal in Mabini, Batangas on August 2, 2019 | Photo courtesy of BOC The Philippine government took in P91.7 billion in import duties from its fuel marking program over an 11-month...

BOC misses collection target from Jan to May

BOC misses collection target from Jan to May

Jun. 20 | Image courtesy of sattva at FreeDigitalPhotos.net The Bureau of Customs (BOC) collected P210.18 billion from January to May, 16.5% less than the P251.71 billion it took in year-on-year, and 1.56% short of the P213.51-billion target for the five-month...

PH, Japan ink P75.5B loan deal for Visayas, Mindanao infra projects

PH, Japan ink P75.5B loan deal for Visayas, Mindanao infra projects

Jun. 16 | Philippine Finance Secretary Carlos Dominguez III (standing, left) and Japan International Cooperation Agency Chief Representative Eigo Azukizawa on June 16 signed the loan agreements totalling P75.5 billion at the Department of Finance Building in Manila...

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...

BBB, food production and logistics crucial to restarting recovery–DOF

BBB, food production and logistics crucial to restarting recovery–DOF

May. 14 | Inter-Agency Task Force on the Emerging Infectious Diseases meeting on May 11, 2020 presided by President Rodrigo Duterte. Accelerated implementation of the Build, Build, Build infrastructure program and scaling up of food production and its logistics...

Vietnam to resume rice exports to PH

Vietnam to resume rice exports to PH

May. 11 | The government of Vietnam has reassured the Philippines of its commitment to resume rice exports beginning May 1, according to the Department of Finance (DOF). DOF said this is in fulfillment of the earlier consensus reached by the Association of South...