Customs seizes P24-M of smuggled steel shipment


Posted at Mar 19 2014 03:23 PM | Updated as of Mar 20 2014 01:46 AM

MANILA, Philippines – The Bureau of Customs (BOC) has confiscated P24 million worth of smuggled steel from China at the Manila port.

The BOC said the consignee, Copperfield Marketing, misdeclared the contents of 26 container vans as uncoated and unplated steel sheets, which carry no tariff.

However, inspections revealed that the container vans contained coated steel, which have a 10% tariff rate.

“This is a clear case of misdeclaring and misclassifying imported products to avoid paying higher duties and taxes. The mere act of misdeclaring a shipment is fraud. We are going to hold the importer, Copperfield Marketing, liable for these violations,” said Deputy Commissioner Ariel Nepomuceno of the BOC’s Enforcement Group.

The BOC said it is checking if the imported steel underwent testing and certification by the Bureau of Product Standards.

Last week, the BOC filed a smuggling complaint against the country's second biggest steel importer for misdeclaring 25 shipments of "steel angle bars."