Sunday, January 23, 2022
HomeCustoms & TradeBOC audit group brings in P287M in first quarter

BOC audit group brings in P287M in first quarter

  • A total of P287 million in customs duties and taxes was collected by the Bureau of Customs-Post Clearance Audit Group for the 1st quarter of 2021
  • Of the total, P258.36 million came from 51 Prior Disclosure Program applications filed with the group, and P28.673 million from demand letters issued to importers after the conduct of post-clearance audit
  • 57 new Audit Notice Letters have so far been issued in 2021
  • 13 final demand letters were also issued to importers amounting to P7.145 billion, still unpaid

The Bureau of Customs-Post Clearance Audit Group (PCAG) generated P287 million in customs duties and taxes for the 1st quarter of 2021, the bureau said in a statement.

PCAG said the additional revenue was collected from 51 Prior Disclosure Program (PDP) applications filed with the Office, accounting for P258.36 million of the revenue collected, and from demand letters issued to importers amounting to P28.673 million after the conduct of post-clearance audit.

A total of 13 filed PDP applications were approved during the period while four were denied.

PCAG said it is optimistic additional revenues could still be generated for the rest of the year as 57 new Audit Notice Letters (ANL) have so far been issued in 2021. In addition, there are 13 final demand letters issued to importers amounting to P7.145 billion, which remain unpaid and for referral to the BOC’s Legal Service for filing of the corresponding collection suit.

The PCAG said it remains vigilant through an enhanced risk-based profiling of importers and the conduct of post-clearance audit to determine whether fines and penalties should be imposed on errant importers found violating the Customs Modernization and Tariff Act and other customs rules and regulations.

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