^

Business

BOC won’t accept cash, checks as tax payments starting next year

- Iris Gonzales -

The Bureau of Customs (BOC) will no longer accept cash and check payments from importers for all transactions starting next year as part of efforts to curb corruption in the agency and raise more revenues, deputy commissioner Alexander Arevalo  said yesterday.

The agency is now in talks with the Bankers Association of the Philippines (BAP), the umbrella organization of banks in the country, to implement the BOC’s plan to accept payments through banks.

Under the planned system, payments will be made via the transfer from bank accounts of the importers and exporters to the account of the agency.

“No check and cash payments will be accepted next year. All payments will be done through transfer from bank accounts,” he told reporters.

All 38 members of the BAP have agreed to participate in the system which is now undergoing technological testing, Arevalo added.

The BOC expressed optimism that banks would be implementing a strict “know-your-customer” practice to ensure the legitimacy of the importers as well as exporters.

Aside from the new payment scheme, the BOC has also laid down other measures to improve operations in the agency and help it meet its P254 billion collection target for next year.

Arevalo said the BOC is also set to implement the advance manifest system wherein imports coming in via ships would be required to submit the manifest 12 hours before the arrival and at least two hours before arrival for air cargoes.

This is in contrast with the current practice where importers have a lag time of five days upon the date of arrival of the shipments to submit their manifests.

The new system, Arevalo said, would give the agency ample time to look into the shipments as well as the corresponding duties and taxes.

Aside from the payment scheme and advance manifests, Arevalo said other improvements would focus on risk management, online releases, inter-agency licenses and permits, as well as automated accreditation.

The BOC, he said, has also decided to shut down the entry encoding center (EEC) at the Port of Manila , Manila International Container Port and the Ninoy Aquino International Airport starting Monday to pave the way for the filing of import entries to the BOC-accredited value added service providers (VASPs).

He pointed out that the closure of the encoding centers is part of the plan of the agency to shift the lodgment of import entries such as warehousing and consumption to VASPs.

vuukle comment

AGENCY

ALEXANDER AREVALO

AREVALO

BANKERS ASSOCIATION OF THE PHILIPPINES

BOC

BUREAU OF CUSTOMS

MANILA INTERNATIONAL CONTAINER PORT AND THE NINOY AQUINO INTERNATIONAL AIRPORT

PORT OF MANILA

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with