BOC-PCAG generates more than P287M in additional revenue for 1Q of 2021
MANILA, Philippines—The Bureau of Customs-Post Clearance Authority Group announced on Saturday that it generated an additional P287,036,700.02 in additional customs duties and taxes for the first quarter of 2021.
In a statement, the PCAG indicated that the additional revenue was collected from 51 Prior Disclosure Program (PDP) applications filed with the BOC that amounted to P258,363,867.77 of the revenue collected.
The remaining P28,672,832.25 came from the post clearance audit.
Despite hauling in additional earnings, the PCAG is optimistic that its revenue will increase for the remaining months of 2021 as 57 new Audit Notice Letters (ANL) have been issued this year with.
There were also 13 final demand letters released to importers amounting to P7,145,789,073.15 which remain unpaid and for referral to the Bureau’s Legal Service for filing of the corresponding collection suit.
“The Bureau of Customs, through the PCAG, assures the public that it remains steadfast to its commitment of protecting government revenue through intensified post clearance audit efforts,” said the agency in the statement.
Article continues after this advertisement“The PCAG continues its vigilance with enhanced risk-based profiling of importers and the conduct of post clearance audit to determine whether fines and penalties shall be imposed on errant importers found to have committed violations of the CMTA and other customs rules and regulations.”
