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Brand-new trucks and brand-new and used bus imports have to be cleared by the Import Assessment Service before the Bureau of Customs releases them from its custody
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Soda ash and titanium dioxide importations no longer require IAS clearance before their release
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Analyzing the assessment of brand-new trucks and brand-new and used buses for the period November 2022-April 2023, BOC said there were forgone revenues from those that were not referred to IAS for clearance or value verification
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BOC analysis shows the difference in the average assessment between IAS cleared and uncleared vehicles were 37% for brand-new trucks, 18.86% for brand-new buses, and 7% for used buses
Brand-new trucks and bus imports now require clearance by the Import Assessment Service (IAS), according to Bureau of Customs Commissioner Bienvenido Rubio.
In OCOM (Office of the Commissioner) Memo No. 45-2023 dated May 9, Rubio said the importation of brand-new trucks, and brand-new and used buses have to be forwarded to IAS prior to their release from customs custody.
IAS, which is under the Assessment and Operations Coordinating Group, is in charge of monitoring the assessment of imported goods.
Soda ash and titanium dioxide importations, meanwhile, no longer require IAS clearance before their release, the memo added.
According to analyses on the assessment of brand-new trucks and brand-new and used buses for the November 2022-April 2023 period, BOC said there were forgone revenues from those that were not referred to IAS for clearance or value verification.
While IAS clearance was not mandated yet for brand-new trucks and brand-new and used buses, some ports still opted to refer these commodities for IAS clearance.
Of the total 10,227 units of brand-new trucks assessed from November 2022 to April 2023, 4,049 units were referred to IAS for clearance while 6,178 units were not.
According to the analysis, the goods declaration of brand-new trucks indorsed for IAS value verification garnered an average assessment of P234,935 per unit. This compares with the average assessment of P171,328.87 for brand-new trucks that were not subjected to IAS clearance.
This meant brand-new trucks referred to IAS for value verification were assessed 37% higher or P63,606.13 per unit, compared with those that were not referred for IAS clearance.
The analysis noted that an additional revenue of P392.959 million should have been collected if IAS clearance was mandated for brand-new trucks during the period covered.
For brand-new buses, 314 units were referred for IAS clearance while 538 were not during November 2022 to April 2023.
Goods declaration of brand-new buses indorsed for IAS value verification garnered an average assessment of P258,870.93 per unit, which is 18.86% or P41,069.50 per unit higher compared with the average assessment of P217,801.43 for those without IAS clearance.
The analysis said an additional revenue amounting to P22.095 million should have been collected if IAS clearance for brand-new buses was mandated during the period.
For used buses, 190 units were subjected to IAS clearance while 256 were not from November 2022 to April 2023.
Goods declaration of used buses for IAS value verification garnered an average assessment of P123,259.10 per unit, up 7% or P7,971.88 per unit from the P115,287.22 average assessment for those without IAS clearance.
The analysis said an additional revenue amounting to P2.04 million should have been collected if IAS clearance for brand-new buses was mandated during the period. – Roumina Pablo
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