Foreign group lauds campaign vs smuggling
The Joint Foreign Chambers in the Philippines on Wednesday lauded government efforts against smuggling of used motor vehicles and fuels at the Subic Bay Freeport, northwest of Manila, but called for expanded enforcement.
The JFC groups the American, Australia-New Zealand, Canadian, European, Japanese and Korean Chambers of Commerce and the Philippine Association of Multinational Companies Regional Headquarters, which together represent about 1,700 multinational companies that have substantial investment in the Philippines.
In a statement, the JFC welcomed an announcement of the Subic Bay Metropolitan Authority (SBMA) that importation of used passenger vehicles had been suspended for six months until April 2008, during which the SBMA, Bureau of Customs, Department of Finance and Department of Trade and Industry would conduct an audit.
The audit is aimed at determining the extent of smuggling in Subic and recover unpaid excise taxes for the government, the SBMA said.
The JFC also praised a moratorium the SBMA imposed on issuance of import permits to two oil trading companies until payment of correct value-added tax, duties and excise taxes on past shipments.
The JFC said it expected the SBMA to release to the public the results of these audits when completed, and to carry out necessary legal actions against those that would be shown to have violated the law.
“The measure of success of the anti-smuggling efforts against used vehicles will be whether the official statistic on the formal automotive industry as a percentage of total new registrations for vehicles increases,” it said.
“Preliminary data in recent months indicates positive trends, which they hope points to the initial success of the anti-smuggling efforts of the government,” it added.
The JFC had previously spoken against used-vehicle importation, saying it hampered the growth of the automotive industry, deprived government of substantial tax revenues, and threatened the jobs of thousands of skilled workers.
It said that the matter, if unresolved, would bring to fore allegations of corruption and political influence, questions on policy consistency and lack of political will, while overall eroding investor confidence.
The JFC groups the American, Australia-New Zealand, Canadian, European, Japanese and Korean Chambers of Commerce and the Philippine Association of Multinational Companies Regional Headquarters, which together represent about 1,700 multinational companies that have substantial investment in the Philippines.
In a statement, the JFC welcomed an announcement of the Subic Bay Metropolitan Authority (SBMA) that importation of used passenger vehicles had been suspended for six months until April 2008, during which the SBMA, Bureau of Customs, Department of Finance and Department of Trade and Industry would conduct an audit.
The audit is aimed at determining the extent of smuggling in Subic and recover unpaid excise taxes for the government, the SBMA said.
The JFC also praised a moratorium the SBMA imposed on issuance of import permits to two oil trading companies until payment of correct value-added tax, duties and excise taxes on past shipments.
The JFC said it expected the SBMA to release to the public the results of these audits when completed, and to carry out necessary legal actions against those that would be shown to have violated the law.
“The measure of success of the anti-smuggling efforts against used vehicles will be whether the official statistic on the formal automotive industry as a percentage of total new registrations for vehicles increases,” it said.
“Preliminary data in recent months indicates positive trends, which they hope points to the initial success of the anti-smuggling efforts of the government,” it added.
The JFC had previously spoken against used-vehicle importation, saying it hampered the growth of the automotive industry, deprived government of substantial tax revenues, and threatened the jobs of thousands of skilled workers.
It said that the matter, if unresolved, would bring to fore allegations of corruption and political influence, questions on policy consistency and lack of political will, while overall eroding investor confidence.
By Ronnel Domingo - Inquirer
posted by OlongapoCity Zambales at
9:09 PM
0 Comments:
Post a Comment
<< Home