BOC Looks Into Steel Importation

MANILA, Philippines --- The Bureau of Customs (BOC) is conducting a profiling of all steel importers to validate reports that some of them violated Customs laws by engaging in alleged undervaluation of their steel importations.

Customs Commissioner Ruffy Biazon has ordered a Post Entry Audit on all steel importations to substantiate the allegations that some steel importers defrauded government with millions of pesos in taxes.

The allegations were raised by the Philippine Iron and Steel Institute which alerted Biazon on the pernicious illegal activity of some steel importers.

''Just as what we have done with other questioned companies, we profile them then do a post entry audit. Since other steel imports have been questioned before, we issued reference prices for shipments to be compared with,'' said Biazon in a text message.

''We must remember that we are operating under transaction value method of valuation, so the prices are just used as references. Disputes on value are sent to the VCRC (Valuation and Classification Review Commitee) or post entry audit,'' he added.

The sweeping conduct of PEA came after Biazon ordered a probe on the reported cases of technical smuggling of steel products, which the PISI said ''defrauded the government of needed revenues.''

There were 15 erring companies were reportedly engaged in the undervaluation of the steel importations.

They are based in Davao, Cebu, Metro Manila and Subic.

For its part, the Concerned Group of Importers said fictitious importers are being used as ''conduits'' to technical smuggling by their alleged ''mother companies,'' which facilitate the incoming steel shipments.

It referred these firms as the traders and manufacturers of imported steel wire products, ranging from steel wire to wire rods.

''The goods are delivered from Customs (zones) directly to the warehouses of their mother companies and not to the warehouses of the unscrupulous importers,'' CGI said.

CGI said there is another importer of steel billets stealing revenues from the BOC by not declaring the right weight and volume of its shipments at the ports.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • China ignores global outcry vs reclamation
    China ignores global outcry vs reclamation

    On Wednesday, G-7 foreign ministers issued a Declaration on Maritime Security expressing alarm over “unilateral actions, such as large scale land reclamation, which change the status quo and increase tensions” in the region. In their communiqué, which did not specifically mention China, the ministers expressed belief that reclamation activities were meant to “change the status quo” in the West Philippine Sea and South China Sea, through which 40 percent of global trade passes. …

  • Project NOAH exec receives recognition
    Project NOAH exec receives recognition

    Project NOAH executive director and University of the Philippines professor Mahar Lagmay recently received recognition from the European Geosciences Union (EGU) for his work in disaster risk reduction and mitigation in the Philippines. …

  • Nightclub ban for US troops
    Nightclub ban for US troops

    The US Pacific Command has banned its troops in the Philippines from bars and nightclubs, a spokesman said yesterday, with the trial under way of a US Marine accused of murdering a transgender Filipino he met in a bar. Thousands of American and Filipino soldiers will kick off tomorrow the 10-day annual military exercises, according to Capt. Alex Lim, a spokesman for the US forces, but there will be strict controls on their free time. Lim would not say why the restrictions were imposed but …

  • US-Phl war games to start under China’s shadow
    US-Phl war games to start under China’s shadow

    Thousands of American and Filipino soldiers will kick off tomorrow expanded wargames, showcasing a deepening  defense alliance as alarm bells ring over China. The 10-day exercises in the Philippines are an annual affair between the longtime allies, but this time they will involve double the number of soldiers as last year in a sign of their expanding military partnership. The Philippines is seeking more US military and diplomatic support to fend off China’s increasing forcefulness in its bid …

  • Palace defends legal tack in sea row
    Palace defends legal tack in sea row

    There is nothing weak about taking the legal and diplomatic approach to push for the country’s claims in the disputed West Philippine Sea, Malacañang maintained yesterday. On Friday, Bayan Muna Rep. Neri Colmenares led a rally in front of the Chinese consulate in Makati City to protest China’s massive reclamation activities in the Spratly island group to fortify its presence in the disputed waters. Colmenares also criticized the Philippine government for supposedly not doing enough to defend …

  • Veloso sons urge authorities to save mother from death
    Veloso sons urge authorities to save mother from death

    The sons of Mary Jane Veloso, who is facing execution in Indonesia for drug smuggling, yesterday appealed to government officials to do everything to spare their mother from death. “We love you,” Mark Daniel, 12, said when asked for a message for his mother following a press conference at the University of the Philippines in Diliman, Quezon City. Mark Daniel, an incoming Grade 8 student, reiterated his appeal to those in power to help save his mother from death. His younger brother, …

  • US-Philippines wargames to start under China's shadow
    US-Philippines wargames to start under China's shadow

    Thousands of American and Filipino soldiers on Monday will kick off expanded wargames, showcasing a deepening defence alliance as alarm bells ring over China. The 10-day exercises in the Philippines are an annual affair between the longtime allies, but this time they will involve double the number of soldiers as last year in a sign of their expanding military partnership. The Philippines is seeking more US military and diplomatic support to fend off China's increasing forcefulness in its bid …

  • Bar ban for US troops in Philippines amid murder trial
    Bar ban for US troops in Philippines amid murder trial

    The US Pacific Command has banned its troops in the Philippines from bars and nightclubs, a spokesman said Saturday, with the trial under way of a US Marine accused of murdering a transgender Filipina he met in a bar. Thousands of American and Filipino soldiers will on Monday kick off 10-day annual military excercises, according to Captain Alex Lim, a spokesman for the US forces, but there will be strict controls on their free time. Lim would not say why the restrictions were imposed but …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options