Growth in Customs Revenues Slows to 6.6%
The import duties and other taxes collected by the Bureau of Customs (BOC) grew 6.6 percent year-on-year to PhP92.2 billion during the first quarter, albeit a slower growth rate compared with the double-digit rise posted last year due to cheaper oil.
While the first-quarter take exceeded the PhP87.3 billion in collections during the first three months of 2014, it was below the PhP103.3-billion target for the January-to-March 2015 period.
Source: Philippine Daily Inquirer