THE Bureau of Customs (BoC) stated it’ll launch this week a brand new liquidation and billing system (LBS) in any respect ports of entry.
In a press release Saturday, the BoC stated its Administration Data Techniques and Expertise Group (MISTG) is launching on April 13 the LBS, “an online portal that enables the BoC Liquidation and Billing Division (LBD) to effectively audit and consider the post-entry transactions of shipments, through which it successfully determines and informs consignees relating to fines, penalties, and different costs which might be due for assortment.”
The system will even assist LBD personnel handle the Put up Launch Adjustment course of, permitting them to confirm a cargo’s particulars, equivalent to worth, classification, and duties and taxes, amongst others.
It’ll additionally enable personnel to generate paperwork, together with a Discover of Discrepancy, which notifies customers of funds excellent on duties, taxes and different costs, and a Closing Demand Letter, signed by the District Collector, as a closing warning to settle excellent costs.
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The LBS goals to strengthen post-clearance audit processes, permitting ports to simply monitor and detect fraud and unpaid costs.
The BoC posted collections of P643.56 billion in 2021, exceeding the goal by 4.7%. The bureau additionally exceeded assortment targets within the first three months of 2022, which the Division of Finance attributed to the modernization and automation of its processes.
The BoC goals to gather P671.66 billion in 2022.
Supply: Enterprise World
