BOC collects P3.3B revenues from pork imports under reduced tariff, increased MAV system

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THE Bureau of Customs (BOC) has so far collected P3.3 billion from swine meat imports and estimates foregone revenues of P3.6 billion as of December 10, 2021 under the reduced tariff system implemented starting in the second quarter of this year to quell inflation by boosting the supply of pork and stabilizing its retail prices in the domestic market.

In a report to Finance Secretary Carlos Dominguez III, the BOC said that from April 7 to December 10 this year, pork imports reached 214 million kilograms.

President Rodrigo Duterte had issued a series of executive orders (EOs) that took effect starting April 7 to lower pork import tariffs and increase the allowable import volumes of the meat to help stabilize the domestic supply and prices of this food staple for the benefit of Filipino consumers.

Executive Order (EO) 128, which lowered pork import tariffs to five percent within its minimum access volume (MAV) and 15 percent outside MAV for the first three months, was in effect from April 7 to May 14.

EO 134, which superseded EO 128, set tariffs on pork imports under the MAV to 10 percent for the first three months, and 15 percent in the next nine months.

For imports outside the MAV, the tariffs are 20 percent for the first three months and 25 percent in the succeeding nine months.

The one-year effectivity of EO 134 began on May 15, 2021. (PR)

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