MANILA, Philippines - The Presidential Anti-Smuggling Group (PASG) raided a showroom-warehouse of imported lighting fixtures in Mandaluyong City for grossly undervaluing its wares by P50 million.
PASG chief Antonio Villar Jr. said the Aristocrat House of lamps Inc., which has a showroom at the Paragon Plaza building along EDSA, did not have a certification from the Department of Trade and Industry certification indicating its imported goods complied with local product standards. The firm is owned by a certain Joey Uy, the PASG said.
Villar said the items on sale at the showroom included a crystal-studded chandelier priced at P1 million; a lamp shade with crystals at P200,000; and a gold-plated grandfather clock and a sofa set, each selling for P500,000.
He said based on import documents submitted by the company’s borker, they found out that the products imported by Artistocrat were grossly undervalued and misdeclared.
An official of the Bureau of Internal Revenue was present during the raid to countercheck and assist in the inventory of all the items at the showroom. – Paolo Romero