BOC sees lower collection in February due to COVID-19

The Bureau of Customs (BOC), the country’s second largest tax collection agency, expects lower revenues in February amid the slowdown of importations from China due to the outbreak of the coronavirus disease (COVID-19).

“We are already seeing the lower collection from the Bureau of Customs because of the slowdown of our  importations from China,” Finance Undersecretary Antonette Tionko said during the Manila Times Business Forum in Makati City on Tuesday.

Tionko said importations from China went down 44% in February, bringing the overall imports to decline 22% for that month.

“We are seeing that already. We are trying to find ways to recover,” Tionko said.

In mainland China, the total number of confirmed cases has reached 80,151. 

The central province of Hubei, the epicenter of the outbreak, reported 31 new deaths, while in the provincial capital of Wuhan, 24 people had died. —KBK, GMA News