3 oil minnows face Customs audit

The Bureau of Customs will start reviewing the oil importation and shipment records of three small oil companies as part of a drive to boost revenue collection.

The bureau’s Post-Entry Audit Group, headed by Customs Assistant Commissioner Rolando Ligon Jr., will notify Eastern, Flying V and Unioil about the audit.

“We have prepared notices of audit, and we will inform these oil firms that we will conduct a review of their importations for the last year,” Ligon told reporters Wednesday.

He said the audit would also cover the oil importations made by the three oil companies for 2004, 2005 and 2006.

“It does not mean that if you are placed on audit, you are guilty. Let us wait until the audit ends before making any judgment,” Ligon said.

Up next for audit, he added, are oil giants Caltex, Petron and Shell, subjects of the first round of review.

“So far, there has been no evidence of smuggling [against the oil giants], just discrepancy issues,” Ligon said.

Ligon’s team, which Customs Commissioner Napoleon Morales formed to boost revenue collection, was able to collect more than P80 million in additional revenue for the post-entry audit for the last six months.

As of July, the group got P33.5 million (steel), P14.472 million (paper products), P8.631 million (hardware), P3.965 million (motor industry), P3.460 million (electronics), P2.2 million (liquor), P2.7 million (plastic), P1.046 million (general merchandise) and P2.9 million from other classifications.
–Anthony Vargas


My Take:

Hmmm… Could the giants had a hand on this?  Is this a way of suppressing one rival’s growth and maintaining the tri-grip to the oil monopoly in the country?

Just asking…

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