BOC files P1.3-B smuggling raps vs steel importer

A Bureau of Customs special team on Thursday filed criminal charges against steel importer Sanyo Seiki Steel Corp. for smuggling steel products worth over P1.3 billion. Accordign to the bureau’s Run After The Smugglers (RATS) team, Sanyo Seiki president Gregory Uy Chan allegedly smuggled P1.3 billion worth of steel coils, steel sheets, steel bars, and stainless steel into the country. Customs Commissioner Angelito Alvarez said that Sanyo Seiki only declared P165.4 million worth of steel products, bringing down its tax and duty obligations to P25.3 million from P179.4 million. "All consumption entries filed by Sanyo Seiki were covered by falsified weight declarations to make it appear that the weight of the imported products were considerably less than what they actually weigh," said Customs Deputy Commissioner Gregorio Chavez. Alvarez said that the RATS Team detected the misdeclaration, under weighing, and undervaluation with a little help from an informant. He said the claims were validated through the Philippine Chamber of Commerce and Industry. With this development Alvarez ordered Chavez to place all of Sanyo Seiki’s importations prior to 2010 under post-entry audit. "The company's liability could increase by several billion pesos more if it also used the same modus operandi in the past," he said. —VS, GMANews.TV