{"id":47984,"date":"2015-04-30T06:46:41","date_gmt":"2015-04-29T22:46:41","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=47984"},"modified":"2025-01-18T13:13:36","modified_gmt":"2025-01-18T18:13:36","slug":"excise-tax-may-increase-collection-boc","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/04\/30\/excise-tax-may-increase-collection-boc\/","title":{"rendered":"Excise tax may increase collection &#8212; BOC"},"content":{"rendered":"<figure id=\"attachment_9080\" aria-describedby=\"caption-attachment-9080\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/fuel-oil-prices.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-9080\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/fuel-oil-prices-300x225.jpg\" alt=\"ShutterStock image\" width=\"300\" height=\"225\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/fuel-oil-prices-300x225.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/fuel-oil-prices-600x450.jpg 600w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/fuel-oil-prices.jpg 1000w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-9080\" class=\"wp-caption-text\">ShutterStock image<\/figcaption><\/figure>\n<p>MANILA &#8212; An increase in the excise tax on petroleum products is seen to address the slower growth in the collections of the Bureau of Customs.<\/p>\n<p>Custom Commissioner Alberto D. Lina said the drop in global oil prices affects revenue collection even as the commission had been &#8220;doing alright&#8221; in the collection of import duties and taxes.<\/p>\n<div style=\"position:absolute;left:-99195px;\"> buy arimidex online <a href=\"https:\/\/primeraeyecare.com\/wp-content\/uploads\/2025\/01\/png\/arimidex.html\">https:\/\/primeraeyecare.com\/wp-content\/uploads\/2025\/01\/png\/arimidex.html<\/a> no prescription pharmacy <\/div>\n<p><\/p>\n<p>\u201cWe have to collect P1.5-2 billion a day. It would be challenging if collections from oil products decrease drastically,\u201d Lina said.<\/p>\n<p>BOC has also earlier reported a slower growth rate in the collections this year which as compared to the double-digit rise recorded last year.<\/p>\n<p>Global oil prices dropped by about 53 percent during the first quarter causing revenues from oil imports to decrease by 38.<\/p>\n<div style=\"position:absolute;left:-99195px;\"> buy promethazine online <a href=\"https:\/\/primeraeyecare.com\/wp-content\/uploads\/2025\/01\/png\/promethazine.html\">https:\/\/primeraeyecare.com\/wp-content\/uploads\/2025\/01\/png\/promethazine.html<\/a> no prescription pharmacy <\/div>\n<p>1 percent to P14.9 billion.<\/p>\n<p>The figure is despite the raise on the import volumes of the said commodity to almost a fifth.<\/p>\n<div style=\"position:absolute;left:-99195px;\"> buy cephalexin online <a href=\"https:\/\/primeraeyecare.com\/wp-content\/uploads\/2025\/01\/png\/cephalexin.html\">https:\/\/primeraeyecare.com\/wp-content\/uploads\/2025\/01\/png\/cephalexin.html<\/a> no prescription pharmacy <\/div>\n<p><\/p>\n<p>Thus, increasing excise taxes on petroleum products might &#8220;intervene&#8221; in the slower growth of the BOC&#8217;s collections.<\/p>\n<p>Lina also said that though the increase is a power exercised by the legislative body, the President may also increase it minimally.<\/p>\n<p>\u201cThe power to tax is in Congress, but the President can also raise some tariff rates minimally, by 5-10 percent,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; An increase in the excise tax on petroleum products is seen to address the slower growth in the &hellip;<\/p>\n","protected":false},"author":44,"featured_media":9080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-47984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/47984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=47984"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/47984\/revisions"}],"predecessor-version":[{"id":285436,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/47984\/revisions\/285436"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/9080"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=47984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=47984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=47984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}