MANILA, Philippines - The Bureau of Internal Revenue has once again reminded all importers and customs brokers to comply with the accreditation requirements amid looming deadline.
Importers and brokers have only until July 31 to apply for accreditation with the BIR before they are allowed to transact with the Bureau of Customs.
The BIR noted that the July 31 deadline was non-negotiable as this was already extended by another month from June 30 this year.
Failure to comply with the accreditation requirements will lead to the cancellation of their existing BOC accreditation effective August 1 or the date of the expiration the said accreditation, whichever comes first.
Internal Revenue Commissioner Kim Henares urged all importers and customs brokers to immediately comply with the BIR’s accreditation requirements, which have been simplified and made easier.
“We believe we have given them enough time to comply with our accreditation requirements since this is already the second deadline extension given to them. This is part of our reform program and good governance initiatives and we call on all concerned to be part of this process,” Henares said.
The new process of accreditation, mandated by the Department of Finance, aims to plug the loopholes in importation procedures as part of government’s efforts to curb smuggling.
The new regulations aim to ensure that only legitimate and honest tax-paying businesses can import goods through the Custom’s ports.
The Finance Department’s Fiscal Intelligence Unit has the authority to conduct audit of foreign goods entering the country and ensure that the BOC collects the correct tariff rates and the appropriate amount of import taxes and duties.