MANILA, Philippines -- The Land Transportation Office (LTO) expects its collections to grow by 25 percent to P13 billion this year through technology-aided innovations in the registration of vehicles, officials of the Department of Transportation and Communication said on Thursday.
LTO marked its 96th anniversary with the launching of an interconnectivity project with the Bureau of Customs (BOC) and a radio frequency identification (RFID) program to check vehicle registration compliance.
“A 20 to 25 percent increase in collection is expected with the implementation of the RFID project,” Transportation Secretary Leandro Mendoza said.
“Millions of pesos in potential government revenue are lost annually due to non-compliance with vehicle registration requirements,” LTO chief Alberto Suansing said.
Suansing said that the projects would minimize human intervention and improve customer service. “These will also help improve collections,” he said, adding that the projects will help plug tax leakages.
Under the interconnection project, LTO will share its vehicle registration database with the Bureau of Customs’ (BOC) payment database for imported vehicles.