MANILA, Philippines — The Bureau of Customs (BOC) allegedly lost about P900 million of uncollected tariffs from January to February of this year due to “unabated” rice imports’ undervaluation, a farmers’ group claimed Tuesday.
The Federation of Free Farmers (FFF), which analyzed BOC’s own data on rice imports, rejected BOC’s claims that increased tariff collections from rice imports in 2021 were due to the agency’s improved import valuation system.
The BOC earlier reported that tariff collections had risen by 58% to P2.04 billion in January 2021 compared to the same period last year. The agency also claimed that the average valuation of rice imports grew by 11.5%.
However, FFF…
Keep on reading: BOC lost P900M due to undervaluation of rice imports — group