MANILA, Philippines - The Bureau of Customs (BOC) yesterday reiterated it would no longer extend the July 31 deadline for brokers and importers to apply for accreditation.
“We will not extend the deadline as we already extended it by a month from June 30 to July 31, to give ample time to brokers and importers to complete their accreditation requirements,” said Customs commissioner John P. Sevilla.
As of July 11, only 33 percent or about 5,000 of the 15,000 licensed brokers and importers had applied for accreditation, according to the BOC-Account Management Office.
The new process of accreditation, mandated by the Department of Finance, aims to plug the loopholes in importation procedures in line with the government’s efforts to curb smuggling. The first step entails applying for accreditation with the Bureau of Internal Revenue for the issuance of an Importer Clearance Certificate (ICC) or BIR Broker Clearance Certificate (BCC).
The new regulations aim to ensure that only legitimate and honest tax-paying businesses can import goods through the Custom’s ports.
The Finance Department’s Fiscal Intelligence Unit has the authority to conduct audit of foreign goods entering the country and ensure that the BOC collects the correct tariff rates and the appropriate amount of import taxes and duties.
The new rules are aimed at plugging revenue leakage arising from smuggling.
Studies show that the country loses more than P100 billion a year due to smuggling, affecting the government’s ability to earn and channel funds to deliver basic services.