Audit of imports seen boosting Customs take
“We are finalizing the computerized petroleum inventory management system that will track the inventory of petroleum going in and out of Subic”
By Joel E. Zurbano - Manila Standard Today
CUSTOMS Commissioner Napoleon Morales expressed confidence they will be able to bring in P1.2 billion in additional revenues from importers whose shipments have been placed under post entry audit.
Morales said the revenue from deficiencies in payment of past imports, up to three years back, is crucial for the bureau as it is expected to compensate for the deficit in cash collection.
The Bureau of Customs has intensified its Post Entry Audit Group to recover unliquidated duties and taxes of previous importations for its revenue collection drive.
It has urged importers to avail of the bureau’s voluntary disclosure program to avoid being slapped penalties. The bureau can impose a penalty of up to eight times the disputed amount if it discovers fraud.
But if the Customs discovered fraud, it has the right to impose up to eight times maximum penalty to the importer in addition to the disputed amount.
The agency can also impose on importers deficient in their dues to the government Section 1508 of the Tariff and Customs Code of the Philippines.
The section gives district collectors the power to hold the release of imported articles until such time the importer settles the tax difference with the bureau. In most cases storing facilities of importers are padlocked and guarded until the matter is resolved.
Officials have also vowed to track down up to the last liter all petroleum products of oil companies to ensure that taxes are being paid.
Alexander Arevalo, deputy commissioner for Management Information System, said with the implementation of the information and communications technology projects, the agency will be able to strictly monitor the movement of petroleum products.
“We are finalizing the computerized petroleum inventory management system that will track the inventory of petroleum going in and out of Subic,” Arevalo said.
Malacañang has directed the Customs to speed up the e-Customs to bolster its anti-smuggling capabilities.
CUSTOMS Commissioner Napoleon Morales expressed confidence they will be able to bring in P1.2 billion in additional revenues from importers whose shipments have been placed under post entry audit.
Morales said the revenue from deficiencies in payment of past imports, up to three years back, is crucial for the bureau as it is expected to compensate for the deficit in cash collection.
The Bureau of Customs has intensified its Post Entry Audit Group to recover unliquidated duties and taxes of previous importations for its revenue collection drive.
It has urged importers to avail of the bureau’s voluntary disclosure program to avoid being slapped penalties. The bureau can impose a penalty of up to eight times the disputed amount if it discovers fraud.
But if the Customs discovered fraud, it has the right to impose up to eight times maximum penalty to the importer in addition to the disputed amount.
The agency can also impose on importers deficient in their dues to the government Section 1508 of the Tariff and Customs Code of the Philippines.
The section gives district collectors the power to hold the release of imported articles until such time the importer settles the tax difference with the bureau. In most cases storing facilities of importers are padlocked and guarded until the matter is resolved.
Officials have also vowed to track down up to the last liter all petroleum products of oil companies to ensure that taxes are being paid.
Alexander Arevalo, deputy commissioner for Management Information System, said with the implementation of the information and communications technology projects, the agency will be able to strictly monitor the movement of petroleum products.
“We are finalizing the computerized petroleum inventory management system that will track the inventory of petroleum going in and out of Subic,” Arevalo said.
Malacañang has directed the Customs to speed up the e-Customs to bolster its anti-smuggling capabilities.
posted by OlongapoCity Zambales at
11:44 PM
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