THE BUREAU of Customs (BoC) said import volumes fell 3.9% in November, while collections in the first 11 months reached P859.85 billion. Customs Commissioner Ariel F. Nepomuceno told BusinessWorld that import volumes amounted to 9.6 billion kilograms (kg) during the month, which encompassed the period when rice imports were banned. “Foregone revenue due to the […]THE BUREAU of Customs (BoC) said import volumes fell 3.9% in November, while collections in the first 11 months reached P859.85 billion. Customs Commissioner Ariel F. Nepomuceno told BusinessWorld that import volumes amounted to 9.6 billion kilograms (kg) during the month, which encompassed the period when rice imports were banned. “Foregone revenue due to the […]
Import volumes down 3.9% in November — BoC
THE BUREAU of Customs (BoC) said import volumes fell 3.9% in November, while collections in the first 11 months reached P859.85 billion.
Customs Commissioner Ariel F. Nepomuceno told BusinessWorld that import volumes amounted to 9.6 billion kilograms (kg) during the month, which encompassed the period when rice imports were banned.
“Foregone revenue due to the rice import ban and the decline in volume affected BoC collections. It’s good that collections still increased compared to the same period in 2024 because of the ongoing programs in collection efficiency and reforms,” he said last week.
Collections amounted to P75.22 billion in November, up 3.8% from a year earlier, but 5.95% short of target, he said.
“As of Nov. 30, BoC is at P859.851 billion, which is 89.7% of the P958.713 billion emerging target for 2025,” he said.
Mr. Nepomuceno has said that he is not giving up on the P958.7-billion full-year revenue goal.
“From July 1, 2025 when me and my team started to lead, until Nov. 30, BoC improved collections year-on-year despite the lower import volume and the rice import ban. Volume decreased but revenues increased,” Mr. Nepomuceno said.
He earlier warned that foregone revenue from the rice import freeze, expected to last until mid-January, could top P6 billion.
The temporary ban, which began on Sept. 1, was extended until Dec. 31, which President Ferdinand R. Marcos, Jr. said was intended to provide relief for farmers during the harvest. — Aubrey Rose A. Inosante
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Wilma now a low-pressure area, to drench Palawan, Western Visayas
Tropical Cyclone Wilma, which has weakened into a low-pressure area (LPA), is likely to bring thunderstorms to Palawan and Western Visayas, according to the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) on Monday. The former storm Wilma was last located 265 kilometers south of Cuyo, Palawan, according to PAGASA’s 10:00 a.m. advisory. In its earlier 4:00 a.m. […]
Share
Bworldonline2025/12/08 12:37
Best Crypto to Buy as Saylor & Crypto Execs Meet in US Treasury Council
The post Best Crypto to Buy as Saylor & Crypto Execs Meet in US Treasury Council appeared on BitcoinEthereumNews.com. Michael Saylor and a group of crypto executives met in Washington, D.C. yesterday to push for the Strategic Bitcoin Reserve Bill (the BITCOIN Act), which would see the U.S. acquire up to 1M $BTC over five years. With Bitcoin being positioned yet again as a cornerstone of national monetary policy, many investors are turning their eyes to projects that lean into this narrative – altcoins, meme coins, and presales that could ride on the same wave. Read on for three of the best crypto projects that seem especially well‐suited to benefit from this macro shift: Bitcoin Hyper, Best Wallet Token, and Remittix. These projects stand out for having a strong use case and high adoption potential, especially given the push for a U.S. Bitcoin reserve. Why the Bitcoin Reserve Bill Matters for Crypto Markets The strategic Bitcoin Reserve Bill could mark a turning point for the U.S. approach to digital assets. The proposal would see America build a long-term Bitcoin reserve by acquiring up to one million $BTC over five years. To make this happen, lawmakers are exploring creative funding methods such as revaluing old gold certificates. The plan also leans on confiscated Bitcoin already held by the government, worth an estimated $15–20B. This isn’t just a headline for policy wonks. It signals that Bitcoin is moving from the margins into the core of financial strategy. Industry figures like Michael Saylor, Senator Cynthia Lummis, and Marathon Digital’s Fred Thiel are all backing the bill. They see Bitcoin not just as an investment, but as a hedge against systemic risks. For the wider crypto market, this opens the door for projects tied to Bitcoin and the infrastructure that supports it. 1. Bitcoin Hyper ($HYPER) – Turning Bitcoin Into More Than Just Digital Gold The U.S. may soon treat Bitcoin as…
Share
BitcoinEthereumNews2025/09/18 00:27
The Future of Secure Messaging: Why Decentralization Matters
The post The Future of Secure Messaging: Why Decentralization Matters appeared on BitcoinEthereumNews.com. From encrypted chats to decentralized messaging Encrypted messengers are having a second wave. Apps like WhatsApp, iMessage and Signal made end-to-end encryption (E2EE) a default expectation. But most still hinge on phone numbers, centralized servers and a lot of metadata, such as who you talk to, when, from which IP and on which device. That is what Vitalik Buterin is aiming at in his recent X post and donation. He argues the next steps for secure messaging are permissionless account creation with no phone numbers or Know Your Customer (KYC) and much stronger metadata privacy. In that context he highlighted Session and SimpleX and sent 128 Ether (ETH) to each to keep pushing in that direction. Session is a good case study because it tries to combine E2E encryption with decentralization. There is no central message server, traffic is routed through onion paths, and user IDs are keys instead of phone numbers. Did you know? Forty-three percent of people who use public WiFi report experiencing a data breach, with man-in-the-middle attacks and packet sniffing against unencrypted traffic among the most common causes. How Session stores your messages Session is built around public key identities. When you sign up, the app generates a keypair locally and derives a Session ID from it with no phone number or email required. Messages travel through a network of service nodes using onion routing so that no single node can see both the sender and the recipient. (You can see your message’s node path in the settings.) For asynchronous delivery when you are offline, messages are stored in small groups of nodes called “swarms.” Each Session ID is mapped to a specific swarm, and your messages are stored there encrypted until your client fetches them. Historically, messages had a default time-to-live of about two weeks…
Share
BitcoinEthereumNews2025/12/08 14:40