Customs overshoots target-A A +A
Friday, May 30, 2014
DESPITE a decline in importation, the Bureau of Customs (BOC) announced that the Port of Cebu recorded P208.406 million in surplus collections for January-April 2014.
Customs Commissioner John Sevilla confirmed that the Port of Cebu collected P4.279 billion compared to its target of P4.071 billion.
District Collector Roberto Almadin, on the other hand, said the P4.279-billion collection for the first four months surpassed the P2.843 billion collected in the same period in 2013.
Conrado Abarintos, the chief of assessment of the Port of Cebu, said that as of May 28, collections of P1.078 billion surpassed the P1.076 billion for May 2014, with two collection days still left.
For the first quarter of 2014, the top 10 importers are: Seaoil, P452 million; Steel Asia, P150 million; SPC-Kepco, P101 million; Joyland Corp., P83 million; Petronas, P73 million; New Carcar Manufacturing, P72 million; Zone Lane Trading, P68.2 million; Toledo Power Corp., P67 million; Tridharma Marketing, P60.4 million; and San Carlos Solar Energy, P53.7 million.
The San Carlos Solar Energy paid a big amount in duties and taxes because of its importation of components for its solar energy power plant in San Carlos City, which President Benigno Aquino III inaugurated last week.
The other top importers from January to March 2014 ranked 11th to 20th are: Maxima Machineries Inc., P50 million; Cebu Energy Development Corp. (CEDC), P43.4 million; Taiheiyo Cement Phils. Inc., P42 million; Galvaphil Inc., P41.2 million; Cola-Cola Bottlers Philippines Inc., P38.5 million; Petron Corp., P32 million; A.C. Steel Industries Inc., P29.3 million; Carmen Copper Corp., P29 million; San Miguel Foods Inc., PP22.5 million; and International Specialty Concepts, P21.2 million.
Three of the largest importers—Seaoil, Petronas and Petron—distribute fuel and oil, while four others—SPC-Kepco, Toledo Power, San Carlos Solar and CEDC—are in power generation.
Five of the top 20 importers, namely, Steel Asia, Joyland Industries, Galvaphil, Taiheiyo and A.C. Steel, import or manufacture construction materials, an activity that has benefitted from a booming real estate sector.
Published in the Sun.Star Cebu newspaper on May 31, 2014.