Congress asks BOC to explain alarming cash flow into PH, 2019 revenue collection

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MANILA, Philippines — The House Committee on Ways and Means will call the Bureau of Customs (BOC) officials for them to explain their revenue collection for 2019 along with the alleged “alarming” flow of cash carried by foreigners into the country.

According to ACT-CIS Rep. Eric Go Yap, the Vice Chairperson of the ways and means committee, said it has been alarming in recent months in which around P6 billion total flow of cash is being claimed to have entered the country carried by Hong Kongites and Singaporean passengers.

Yap said although he has not seen anything bad in carrying large amounts of Filipino money, the BOC should still be careful and careful about where the money will be used.

Yap also said that carrying cash beyond the permitted cash limit in the country is not illegal under Philippine law, but it is required to be declared by the passenger.

Yap believes that it is now high time to advance reforms to regulate cash flow. (Gelica Paulo/IAMIGO/CNS)

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