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Written by Lorena
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Monday, 11 August 2008 |
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To boost revenue collections and cut back the extensive smuggling of oil products, Customs Commissioner Napoleon Morales issued on July 3 an ordered creating the country’s 16th port, to be known as the Port of Limay. Port of Limay would serve as the principal port of entry and have jurisdiction over the entire province of Bataan except in areas controlled by the Subic Metropolitan Authority. The new port will likely handle all oil importations, boosting the government’s campaign against extensive oil smuggling. Custom made this to help the country to gain P7 million in excise tax payments and P2.5 billion every year in import duties due to oil smuggling. [via] |
