The Bureau of Customs (BOC) on Tuesday denied that it issued a recent order requiring a mandatory cash bond for new importers, citing that the memorandum that has been circulating is a falsified document. “The uncovered falsification of docume...
The Bureau of Customs (BOC) on Tuesday denied that it issued a recent order requiring a mandatory cash bond for new importers, citing that the memorandum that has been circulating is a falsified document.
“The uncovered falsification of document, which was deliberately made to appear as one issued by the office of the commissioner, is a dire attempt to mislead the public and undermine the integrity of the BOC’s operations, not mention concomitant swindling schemes against gullible and unsuspecting transacting stakeholders,” the BOC said in a statement.
Article continues after this advertisementA purported memorandum dated November 12, 2024 claims the implementation of a mandatory cash bond for new importers.
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Under this supposed issuance, corporations are required to post a one-time cash bond of P4 million, while the compulsory amount for sole proprietorships or partnerships is P3 million.
Article continues after this advertisementThe BOC said it will conduct a thorough investigation into the matter to identify the individuals or groups behind what it called a “malicious act.”
The benchmark Philippine Stock Exchange Index (PSEi) shed 0.49 percent, or 36.67 points, to close at 7,400.33.
Article continues after this advertisement“Legal action will certainly be pursued to the fullest extent against those found responsible for this fraudulent activity.,” it said.
Article continues after this advertisementThe BOC is urging the public, stakeholders, and the importing community to exercise vigilance and verify the authenticity of any communication or policy through official channels.
For inquiries or to report suspicious documents, the BOC said that stakeholders can contact their hotline at (02) 8705-6000 or email at [email protected].
Article continues after this advertisementMeanwhile, a local trade association of brokers has made a call for all relevant stakeholders to remain vigilant against fake issuance.
golden hoyeah“We want to clarify that BOC has not issued any such memorandum from the office of the commissioner,” Anthony Cristobal, president of the Philippine Chamber of Customs Brokers, Inc. (PCCBI) said in a statement.
“We urge everyone to verify the authenticity of any communications they receive and to report suspicious documents to the appropriate authorities. Your cooperation is vital in combating misinformation and protecting the interest of the transacting public,” he added.
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