MANILA, Philippines - A Chinese firm is offering the government a hologram-aided technology, which it said would help address the problem of smuggling in the country.
The Department of Finance (DOF) said it is now awaiting the recommendation of the Bureau of Internal Revenue (BIR) on the unsolicited proposal of China-based Huagong Tech Co. Lt.
The company has offered a hologram-backed stamp tax technology but Finance Secretary Cesar Purisima said he has not heard of the detailed proposal yet.
”The ball is in the BIR’s hands. Let them talk first before the DOF could issue a comment,” Purisima said in a recent interview.
“I haven’t heard about them. This is the first time,” Purisima said.
The Finance secretary nevertheless said it’s up to the BIR to pursue Huagong’s proposal and evaluate its feasibility.
He however, said the revenue agency must first pass the legal hurdle imposed by the Departmen of Justice (DOJ) when it blocked its previous negotiations with Swiss firm SICPA Product Security before it could entertain another proposal.
Huagong gave an unsolicited offer of tobaco giant Philip Morris and Fortune Tobacco Corp. (PMFTC) to provide a cutting-edge technology solution that would curb smuggling of cigarettes.
Batangas Rep. Tom Apacible, a member of the House ways and means committee, had disclosed that Huagong promises to provide its technology at a price much lower than the 62-centavo per pack proposal of Swiss firm SICPA.
Huagong Tech Co. Ltd. is engaged in the business of providing laser processing equipment and laser holographic anti-counterfeiting labels.