MANILA, Philippines — Up to P500 million in additional revenue could be generated from 20 luxury and 200 mid-market cars that will be auctioned off until next year, the Bureau of Customs said yesterday.
BOC Commissioner Ariel Nepomuceno said the auction and negotiated sale of vehicles will not be rushed to ensure transparency.
Twenty luxury vehicles were confiscated from smugglers and Philippine offshore gaming operators, he said.
Cars seized at the Port of Manila, Manila International Container Port and Port of Zamboanga will be up for sale.
Early this year, the BOC turned over to the Bureau of the Treasury P113 million raised in the auction of 13 luxury cars owned by detained contractors Curlee and Sarah Discaya.