BOC implements liquidation/billing system on April 13
• The Bureau of Customs’ Liquidation and Billing System will go on stream at all ports nationwide on April 13
• The portal will allow BOC’s Liquidation and Billing Division to efficiently audit and evaluate post-entry transactions of shipments
• The system will determine and inform consignees of fines, penalties and other charges that are due for collection
The Bureau of Customs’ Management Information System and Technology Group (MISTG) will implement the Liquidation and Billing System (LBS) at all ports nationwide on April 13.
The LBS is a online portal that allows BOC’s Liquidation and Billing Division (LBD) to efficiently audit and evaluate post-entry transactions of shipments, the agency said in a statement.
The system determines and informs consignees of fines, penalties and other charges that are due for collection, BOC added.
It also aids LBD personnel in the post-release adjustment (PRA) process by providing an interface for checking and verifying a declaration’s correctness of value, classification, and computation of duties and taxes, among other charges.
PRA is the process in the liquidation of goods declarations that gives rise to discrepancies in duties and taxes due to adjustments in insurance and freight charges, foreign exchange rates, changes in classification of goods, and other factors that result in their re-appraisal.
In addition, the LBS enables users to monitor collections or refunds of duties and taxes, when necessary.
Aside from data review and monitoring, the system enables LBD personnel to generate templated documents such as a Notice of Discrepancy, the initial notification letter sent to stakeholders to demand payment for deficiencies in duties, taxes, and other charges arising from the PRA.
The system also issues a Final Demand Letter, the last notification letter signed by the district collector informing stakeholders to settle discrepancies and deficiencies based on the PRA.
As part of the MISTG’s post-clearance strategic roadmap deliverables, BOC said the LBS strengthens the post-clearance audit process of each BOC port by providing a platform to easily detect and mitigate fraud and revenue leakages, thereby increasing the amount of lost revenue to be recovered.
The launch and implementation of the LBS follow the issuance of Customs Memorandum Order No. 09-2022, which provides procedures in the liquidation of goods declaration for consumption by the LBD or its equivalent units in the collection districts using the LBS and post-entry modification of single administrative document.
READ: BOC rule guides liquidation & billing unit in liquidating goods declaration
BOC’s top priority this year is to continue its computerization program as part of its goal to fully automate its service.
