SAN ILDEFONSO, Bulacan-- Officials of the Bureau of Customs (BOC) on Friday seized some PHP4- billion worth of fake Bureau of Internal Revenue (BIR) tax stamps and genuine "Mighty and "Marvel" cigarettes in two warehouses inside Nazarene Trading Company at KM 64 Barangay Matimbubong, here.
The alleged fake BIR tax stamps and cigarettes were seized in two warehouses owned by Mighty Corporation.
In an interview with BOC Commissioner Nicanor Faeldon, the forfeited cigarettes totaling 160,000 master cases and 80 million cigarette packs seized by the raiding team have an estimated PHP4 billion street value.
Faeldon said the PHP4-billion seized cigarettes and tax stamps were owned by Mighty Corporation through mission order No.03-23-107 Series-2017.
"This is the biggest volume that we have raided based on the previous volume we seized in San Simon in Pampanga," the BOC Commissioner said.
He added that the BOC will issue warrant and forfeiture of cigarettes pending computation on the excise tax of the forfeited cigarettes.
Faeldon noted that mere possession of products paid will be multipled by 10 for the computation of the entire penalty.
Last November 2016, Faeldon said the BOC raiding team also raided in smuggled raw materials and tax stamps in Villasis, Pangasinan, which led to the arrests of 24 Chinese working in the warehouses.
The BIR has not yet made an actual inventory of the products,
The two warehouses are now sealed with new padlocks and secured by four BOC personnel.
Last Wednesday, BIR filed a PHP9.564-billion tax evasion case before the Department of Justice against cigarette maker Mighty Corp. and its officials for using fake tax stamps on their products to evade the payment of excise tax to the government.
Source: Philippines News Agency