BOC seizes P24-M smuggled steel

MANILA, Philippines - The Bureau of Customs (BOC) has seized a P24-million shipment of imported steel at the Port of Manila for alleged technical smuggling.

Deputy commissioner Ariel Nepomuceno said yesterday the shipment was declared by its owner as “hot-rolled, non-alloy steel” but investigation showed it was “hot-dipped, al-zinc alloy coated steel,” which required 10-percent tariff rate.

The consignee, Copperfield Marketing from Manila, declared the value of the steel in 26 shipping container at $326,293 when the total amount should be $434,972.

“This is a clear case of misdeclaring and misclassifying imported products to avoid paying higher duties and taxes,” he told reporters.

Copperfield Marketing was one of the 70 importers suspended by the BOC earlier this month for repeatedly violating customs policies and procedures in filing import documents.

The government has required product certification for steel products following the unabated entry of cheap, substandard steel products in the market.