4 months Customs denies undervaluation of rice imports MB
By Betheena Kae Unite The Bureau of Customs (BOC) denied allegations by a group of farmers that rice importations have been undervalued, maintaining that they have been following internationally recognized system of valuation. The Federation of Free Farmers, Inc. (FFF) in a recent statement lamented the “apparent undervaluation of rice imports following the enactment of the Rice Tariffication Law or RA 11203 last March 2019.” It can be recalled that the Department of Finance (DOF) and the Customs bureau reported a collection of P5.9 billion in tariffs from imports of 1.43-million metric tons of rice from March to July. However, ... more