Ferry salvor exempted from duties, taxes

MANILA, Philippines – The foreign salvor of the sunken ferry M/V Princess of the Stars has been exempted from paying duties and taxes, but would still have to pay more than P1.2 million in surety bond.

The Bureau of Customs (BOC) said Titan Salvage Corp., the foreign firm hired to remove the hazardous cargo from the overturned ship, was exempted from paying duties and taxes amounting to P1,245,155 for bringing its equipment into the country.

BOC Commissioner Napoleon Morales said yesterday that Titan, with the assistance of the Department of Transportation and Communications, was able to secure a tax exemption from the Department of Finance and its equipment were released last Friday without paying taxes.

“We understand the urgency of the situation because these are, after all, salvaging equipment to be used for the extraction of chemicals,” Morales said.

When the Sulpicio Lines-owned ship went down off Romblon, it was reportedly carrying 10,000 kilograms of the toxic pesticide endosulfan, 392 kg of Antracol WP70, 501 kg of Fuerza GR3, 17.5 kg of Trap 70WP, 150 liters of Tamaron 600SL, and 250,000 liters of special fuel oil.

He said Titan’s equipment would be re-exported back to the United States and Singapore once the firm has completed its task.

The surety bond only covers the equipment brought in through the seaports and temporarily stored at the Manila International Container Port.

The BOC has yet to receive a report on the equipment brought in by Titan through the Ninoy Aquino International Airport. – Evelyn Macairan