Manila: Finance Secretary Carlos Dominguez Ill has asked the Bureau of Customs (BOC) to keep a check on the possible smuggling of sugar in the country. He issued orders following the reports that certain traders have been exporting the commodity and replacing them with import volumes much bigger than what they had been shipping overseas.
In a recent meeting of the Department of Finance (DOF), Dominguez said that the domestic prices of sugar are higher compared to the world prices hence the people smuggling sugar.
According to the media report, during the meeting, he told the Customs Commissioner Rey Leonardo Guerrero that the Bureau of Internal Revenue (BIR) has sent him a report about illegal activities of smuggling of sugar by a company authorized to export sugar. He said that the company was found replacing its overseas shipment with volumes that are higher than the sugar it had exported.
Deputy Commissioner Arnel Guballa said that he is coordinating with the Sugar Regulatory Administration (SRA) to ensure that such activities do not take place by the traders.
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