Corn importers among top taxpayers at BOC

CORN importation worth billions a year was still among the top duties and taxes collected by the Bureau of Customs (BOC) Port of Cebu, despite the fact that the Philippines is an agricultural country.

Corn importer Cagayan Corn Products Corp. paid P415.3 million in duties and taxes, while Asian Grains Corp., another corn importer, paid P168.1 million.

Conrado Abarintos, BOC Port of Cebu collection division chief, said the annual target for 2018 is P27.4 million. But because of the corn importation, they have collected more than P28 million, with a surplus revenue of P566.3 million, as of Dec. 14.

District Collector Elvira Cruz said the top 20 importers for 2018 are Seaoil Philippines Inc., Steel Asia Manufacturing Corp., Ecossential Foods Corp., Kepco SPC Power Corp., Joyland Industries Corp., Cebu Energy Development Corp., Apo Cement Corp., Taiheiyo Cement Corp., Cagayan Corn Products Corp. Chioson Development Corp., A.D. Gothong Manufacturing Corp., Dairy Milk Corp., Carmen Copper Corp., International Pharmaceuticals Inc., Treasure Island Industrial Corp., Asian Grains Corp., Phil Gold Processing and Refining Corp., Galvaphil Inc., Polaristar Trading and National Grid Corporation of the Philippines.

The other top importers are JS Unitrade Merchandise Inc., Cebu Diamond Industrial, Queens International Trading Corp., Petronas Energy Philippines Inc., Mandaue Foam Industries Inc., Ajinomoto Philippines Corp., Ricor Mills Corp., Trans Asia Shipping Lines Inc., Davao Bay Coconut Oil Mills Inc., Toledo Power Company, Cornerstone Diversified Goods Trading, Jo-Wer International Trading, Central Lumber Corp. and DGL Commodities Inc.

“We noticed that our leading importers are in the food, fuel, energy and construction sectors,” Cruz said.

Cruz said the BOC Port of Cebu has increased its revenue collection from P19 billion for the period January to November 2017, to P26.7 billion for the same period of 2018. (EOB)


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