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MANILA, Philippines – The Department of Finance (DOF) set up a new website to gather help and suggestions from the private industry as the Bureau of Customs (BOC) begins its modernization process.
The catalyst for the modernization is the new Customs Modernization and Tariff Act (CMTA) or Republic Act 10863 which was signed by former president Benigno Aquino III back in May.
Last week, the government began consultations for the implementing rules and regulations (IRR) of the CMTA.
On the new website, the public can view the time frame and guidelines on the crafting of the IRR, as well as priority concerns and point persons assigned to each topic. The dates of the next public consultations will also be posted there.
The site aims to eventually track the development of Customs Administrative Orders through an “elements matrix” that can be accessed online, the DOF said in a statement on Sunday, August 28.
The CMTA aims to ensure that the BOC’s practices are in line with global standards.
It also includes a slew of reforms, such as tougher penalties for smuggling. Those convicted will now face imprisonment of 20 to 40 years depending on the amount of goods illegally brought into the country.
The CMTA also increased the tax-exempt value of items sent via balikbayan boxes by overseas Filipino workers (OFWs).
OFWs can now ship up to P150,000 worth of goods of non-commercial quantities in balikbayan boxes duty- and tax-free while Filipinos who have been out of the country for at least 10 years and are returning to the Philippines are granted duty and tax exemptions for personal and household effects worth P350,000.
Those who have lived overseas for at least 5 years will have a duty- and tax-free exemption for personal and household effects up to P250,000, while those who have stayed abroad for under 5 years would get an exemption for personal effects worth up to P150,000.
The CMTA also increases the value on de minimis importations, which means shipments valued at P10,000 or below will not be subjected to duties or taxes.
Customs Commissioner Nicanor Faeldon previously said that he expects the new law to stop the BOC’s recent history of missing revenue targets.
The BOC, the government’s second largest revenue generator, failed to hit its revenue target for the first half of 2016, falling P48.5 billion short of its P238.32-billion target. The agency also missed its July target by P13 billion.
Faeldon has taken a hard stance against corrupt officials as part of his vow to revamp the agency. – Rappler.com
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