The first mini-article in THE MALAYA BUSINESS INSIGHT begins, " IT is common knowledge in customs that a powerful man demands--and gets-P25,000 per container coming into the piers. At the rate of 500 containers a day, that is easily P12.5 million per day." (P= Filipino Pesos, which are trading at about 46.5 to the dollar)
Naturally, I assume that many know the names of the largest smugglers working for the Filipino customs union. However, with the many disappearances and murders of journalist, the author hesitates to name names.
The author continues, "Another P10,000 per container goes to somebody whose job is to stamp out smuggling. That's P5million a day. No Sweat."
"What do the importers get in return? A fatter sum, of course! Their imports, which are misdeclared as raw materials but are actually consumption goods, are documented as being kept in customs bonded warehouses," the author continued.
What is the truth? According to Mr. Amadomacasaet@yahoo.com , "[G]oods are delivered to the compounds of the importers straight from the ship. No taxes are paid."
The author explains, "There is supposed to be a bond that secures the raw materials in the event they are withdrawn without authority."
"But the bonds are spurious," the writer concludes, "It is beyond my little knowledge of arithmetic to make a good guess of how much money is lost to the government. But they ran into the billions. Yet, sometimes customs announces it exceeds the collection target. Maybe the target is too small."
SEVERAL IMPORTANT POINTS
Next Page 1 | 2 | 3 | 4 | 5 | 6
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
