Bureau of Customs Discovers Tax Deficiency of Luxury Car Importer Worth P233.8 Million


Change is indeed coming at the Bureau of Customs under the leadership of Commissioner Nicanor Faeldon as they found out that one of the leading luxury car importer Auto Nation Group Inc., was found to be deficient of approximately P233.821 million in unpaid duties and taxes.



Pres. Duterte did the right thing of putting Commissioner Faeldon in one of the country's most corrupt agency, the BOC. In order to improve the revenue collections of the agency, they were able to discover some discrepancies with Auto Nation or more popularly known as CATS Motors Inc., the previous name of the company.

According to a news report posted by The Daily Tribune, in an official correspondence, acting collector of the Manila International Container Port Antonio Meliton informed Auto Nation President Felix Ang that his company was found to be deficient of approximately P233.821 million in unpaid duties and taxes, accumulated throughout 2015 under the administration of Pres. Aquino.

The BOC noted that Auto Nation imported 138 units of Mercedez Benz in shipments last year, and only paid P196.529 million in customs duties. Based on standard computation, Auto Nation should have paid close to P432 million to the national government.


Some unconfirmed reports noted that the company Auto Nation used their close ties with the Aquino administration to expedite their vehicle importations. During the year 2013, Auto Nation's predecessors CATS Motors Inc. was recommended for close investigation but BIR Commissioner Kim Henares of the BIR never signed the memorandum.

Back to BOC's collection for the month of September the MICT posted a collective revenue of P10.583 billion based on initial reports, close to its target of P10.601 billion. The BoC as a whole netted P33.95 billion last month, missing its P35.79 billion goal by 5.14 percent.

Source: The Daily Tribune
 

Bureau of Customs Discovers Tax Deficiency of Luxury Car Importer Worth P233.8 Million Bureau of Customs Discovers Tax Deficiency of Luxury Car Importer Worth P233.8 Million Reviewed by Phil Newsome on 10/21/2016 Rating: 5

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