CUSTOMS NETS NEARLY P838M FROM POST-CLEARANCE AUDITS

THE Bureau of Customs (BOC) collected almost P838 million in revenues through its post- clearance audits in the first half of this year.

Bulk of the amount or P683.96 million came from 64 Prior Disclosure Program ( PDP) applications of importers, while the remaining P154.01 million was sourced following the bureau’s issuance of 121 Audit Notice Letters, the BOC said in a statement on Monday.

On top of this, the BOC still expects to collect an additional P13.647 billion from the enforcement of 67 demand letters arising from post-clearance audits conducted in 2019, 2020, and 2021—which have become final and executory for the failure of the audited importers to contest the same.

“The BOC, under the leadership of Commissioner Rey Leonardo B. Guerrero, will continue to plug revenue leakages and promote compliance of importers [with] Customs laws through consistent post- clearance audit verifications and investigations,” it said.

Under Customs Administrative Order No. 01-2019, PDP refers to the program authorizing the Customs Commissioner to accept, as a potential mitigating factor, prior disclosure by importers of errors and omissions in goods declaration that result in deficiency in duties and taxes on past importations.

This may also include disclosures on royalties and other proceeds of any subsequent, resale, disposal, or use of the imported goods that accrues directly or indirectly to the seller.

For this year, the BOC hopes to hit its adjusted full-year revenue target of P733 billion set by the Cabinet-level Development Budget Coordination Committee.

Guerrero earlier expressed confidence of hitting the full-year goal on the back of the improved import volume and the windfall from oil price hikes and weaker peso which meant higher costs for imports.

He added that the BOC still has a surplus of around P40 billion relative to their new collection target for this year.

Last year, the BOC collected P645.77 billion, exceeding its P616.75-billion target by 4.7 percent.

Of the amount, P1.5 billion in additional revenues was raised from its post- clearance audits during the period.