Gov't overhauls importers' accreditation

ABS-CBN News

Posted at Feb 10 2014 06:36 PM | Updated as of Feb 11 2014 02:36 AM

MANILA, Philippines - The government is overhauling the accreditation process for importers, with their permits set to automatically expire 90 days after new rules are announced.

In a statement, the Department of Finance issued an order requiring importers to obtain clearance from the Bureau of Internal Revenue (BIR) before seeking Bureau of Customs accreditation to import.

The DOF said new accreditation guidelines will be released in 15 days and after that, importers are given 3 months to comply or their existing accreditation automatically expires.

Finance Secretary Cesar Purisima said with the BIR now having importers' tax data, it will be easier for the government to track if an importer is doing legitimate business or paying the right taxes.

The new rule is part of efforts to curb smuggling. - ANC