Philippine gov't to probe importers' tax payments

Manila (Philippine Daily Inquirer/ANN) - The Philippine Bureau of Customs must step up collaboration with counterparts from other countries to reconcile the disparities between records in the traffic of goods, according to Finance Secretary Cesar V. Purisima.

Purisima added that Customs needed to work closer with the Bureau of Internal Revenue to make all of the top 5,000 importers part of the top 10,000 taxpayers.

In a speech during the agency's anniversary rites held in Cebu earlier this week, the finance chief said these must be done considering that Customs has been a weak area in government financing.

He said that in the past two years, the bureau's collection effort went down from 2.9 percent of gross domestic product in 2010 to 2.8 percent in 2012.

This was partly because of the reduction in tariff rates, which Purisima said would continue in the years to come due to the country's international commitments.

However, he said the volume and value of Philippine imports have both been increasing.

To address this, Purisima said the government was looking at establishing a minimum value per container-whether for all or each category of products.

"We're looking at a value of about 1.5 million pesos (US$36,800) per 20-foot container, which means a levy of at least 300,000 pesos per container," he said. "On the assumption that there are at least 2 million inbound containers that are subject to value-added tax and duties, that's 600 million pesos."

Purisima said that for increased collection to materialize, Customs needed to invest in upgrading its information system.

He said the government must reconcile its trade data with those of other countries-a comparison of which normally showed that Philippine-bound cargo from a particular country was more than what Philippine import data showed.

"For example, data from China show that two-way trade with (the mainland) is valued at $32 billion, but our books show it is only $16 billion," he added.

"We'd like to work with the World Bank, the International Monetary Fund and other bilateral partners to reconcile these numbers," he said. "I'm sure that if we're able to reconcile these numbers, we'll be able to set a benchmark that will give us a good chance in improving customs performance."

*US$1=40.6 pesos

COPYRIGHT: ASIA NEWS NETWORK

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.

  • ‘Next leader must not be newbie’
    ‘Next leader must not be newbie’

    Vice President Jejomar Binay believes the next president of the Philippines must have vast experience and a long track record in governance and in dealing with crises. “I am very much convinced that the local government is the best training ground for those who want to run for national government positions,” he said. Binay said he is determined to run for president in 2016 on the strength of his competence and track record. …

  • Massacre suspect tests negative for poisoning
    Massacre suspect tests negative for poisoning

    A suspect in the Maguindanao massacre case who had been examined at the Philippine General Hospital (PGH) tested negative for poisoning, medical records released yesterday showed. However, the Quezon City court handling the multiple murder case resolved to isolate Police Officer 1 Pia Kamidon from the rest of the accused detained at Camp Bagong Diwa in Taguig for his safety. In a two-page order, Regional Trial Court Branch 221 assisting Judge Genie Gapas-Agbada ordered jail officials to …

  • ‘Homework first before Facebook’
    ‘Homework first before Facebook’

    President Aquino elicited laughter from students here as he reminded them to open books first before Facebook. “Finish your assignments first before making a raid in the Clash of Clans,” Aquino said, referring to a popular online game. In a speech during the turnover yesterday of two new three-story buildings at the Tarlac National High School, he said the government could only provide opportunities for learning but the rest of the work would be up to the students. The new school buildings …

  • Espina resignation confirmed; Noy looks for replacement
    Espina resignation confirmed; Noy looks for replacement

    President Aquino ended speculations yesterday and confirmed that Deputy Director General Leonardo Espina had indeed resigned as officer-in-charge of the Philippine National Police. As of this time, we are conducting various interviews and checks on the various candidates,” Aquino told reporters at the Tarlac National High School in Tarlac City. Aquino had kind words for Espina, saying that he stood by and defended the 44 slain police Special Action Force (SAF) commandos in the operation in …

  • Palace welcomes G7 concern over sea reclamation
    Palace welcomes G7 concern over sea reclamation

    President Aquino welcomed yesterday the Group of Seven industrialized countries’ expression of concern over rising tension in the West Philippine Sea and South China Sea, calling it a clear indication of the global scope of the problem ramped up by China’s massive reclamation activities in disputed waters. In Tarlac City where he led the turnover of new classrooms, Aquino told reporters that goodwill and not tension must prevail in the West Philippine Sea and South China Sea, where territorial …

  • DepEd, TESDA tie up for K to 12
    DepEd, TESDA tie up for K to 12

    The Department of Education (DepEd) has partnered with the Technical Education and Skills Development Authority (TESDA) in the first two years of implementation of the K to 12 program. “We will use TESDA centers as technical-vocational laboratories for senior high school,” DepEd Secretary Armin Luistro said during the inauguration of 30 new classrooms at the Tarlac National High School yesterday. The classrooms were constructed in partnership with the Philippine Amusement and Gaming Corp. …

  • SE Asia Stocks-Philippine falls on foreign selling; others flat to weaker

    BANGKOK, April 17 (Reuters) - Southeast Asian stock markets ended flat to weaker on Friday as Philippine stocks slid on selling led by foreign funds and Singapore shares extended losses with investors ... …

  • Philippine Airlines parent says back in black
    Philippine Airlines parent says back in black

    Philippine Airlines' parent firm said it had returned to profitability, the first time in three years either entity reported being in the black for an entire year. In a filing with the Philippine Stock Exchange Thursday, PAL Holdings reported an after-tax net profit of 129.74 million pesos ($2.93 million) in its fiscal year to December 31. …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options