MANILA, Philippines - The Bureau of Customs (BOC) recently seized 102 high-end bicycles imported from the United States after the shipment’s consignee allegedly failed to pay the correct taxes and duties worth P2 million.
BOC-Enforcement Group (EG) Deputy Commissioner Horacio Suansing Jr. said the Cannondale bicycles that arrived at the Manila International Container Port (MICP) were impounded after they discovered that the shipment was grossly undervalued.
A Cannondale bicycle fetches P50,000 to P250,000 in the local market.
Suansing said the consignee, Stonesider Enterprises, allegedly only paid P73,338 in duties and taxes when it should have paid P2 million. “The consignee made it appear that each unit had a dutiable value of only about $50 or P2,200, obviously to avoid payment of rightful duties, which is estimated to be around P2.5 million,” Suansing said.
He added that “this is tantamount to gross undervaluation, which renders the shipment liable to seizure under the Tariff and Customs Code.”
BOC-MICP district collector Ricardo Belmonte said a warrant of seizure and detention will be issued against the reportedly illegal shipment.