Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home International Customs Philippines

Philippines gov’t loses P9 B tax revenues to technical smuggling of pork

byCT Report
11/04/2016
in Philippines
Share on FacebookShare on Twitter

MANILA: The government has lost P9 billion worth of tax revenues in the past five years due to unabated technical pork smuggling, according to hog farmers and meat producers.

“Based on the report of our trading partners, around 202 million kilos of pork have been smuggled into the country for more than five years now. This translates to about P9 billion in lost government revenues. Yet technical smuggling remains unabated,” the National Federation of Hog Farmers Inc. (NFHFI) chaired by Vicente Mercado and the Samahang Industriya ng Agricultura and the Pork Producers Federation of the Philippines Inc. (Pro-pork) said.

You might also like

Investors troop to year’s first RTB issue; P134 billion awarded

03/02/2020
People are seen going inside the ADB building in Ortigas, report said The Asian Development Bank expects to lend an estimated $7.8 billion, or nearly $2 billion annually, from 2018 to 2021, under a new six-year country partnership strategy.It would be the highest for any 4-year period, the Manila-based multilateral lender said Thursday.“The annual average also doubles the current estimated yearly lending pipeline,” the bank said in a statement.Photo by:Nonie Reyes

ADB raises $4.25 billion from US dollar bond market to boost OCR for 2020

21/01/2020

The group claims that at least 80,000 backyard hog raisers and their families have lost their livelihoods because of technical smuggling of pork and other agricultural products.

They warn that allied sectors like corn and palay (unhusk rice) producers would feel the repercussions if the backyard hog industry is left to die.

“In a span of six years, the backyard hog industry’s inventory dropped from 9.54 million heads to 7.95 million heads,” the NFHFI, Samahang Industriya ng Agrikultura, and Pro-pork said.

They said “misdeclaration” is still rampant as pork meat is misdeclared as offal, fat, or skin so that its tariff is only at five to 10 percent rather than 40 percent.

The group said last year alone, 70 percent of the pork imports were declared in the same way.

The umbrella groups of hog raisers and grain producers have lauded the passage of the Anti-Large-Scale Agricultural Smuggling Act, and have joined the strong clamor for President Aquino to immediately sign it into law.

Abono Party-list Rep. Conrado Estrella III, principal author of the Anti Large-Scale Agricultural Smuggling Act in the House of Representatives, revealed that agricultural stakeholders – farmers, irrigators, hog raisers, grain producers and other allied sectors – are pinning their hopes on President Aquino’s immediate signing of the measure into law.

“We have to actively combat smuggling to curb, if not eradicate, this illegal activity completely. If farmers continue to lose revenue because of smuggled products flooding the market, backyard growers will close shop. No one will want to raise hogs, poultry, and livestock if they cannot make money from them. No one will want to plant rice or other agricultural products,” Estrella said.

 

 

 

Related Stories

Investors troop to year’s first RTB issue; P134 billion awarded

byadmin
03/02/2020

THE Bureau of the Treasury (BTr) has awarded an initial P134 billion worth of three-year retail treasury bonds (RTBs), which...

People are seen going inside the ADB building in Ortigas, report said The Asian Development Bank expects to lend an estimated $7.8 billion, or nearly $2 billion annually, from 2018 to 2021, under a new six-year country partnership strategy.It would be the highest for any 4-year period, the Manila-based multilateral lender said Thursday.“The annual average also doubles the current estimated yearly lending pipeline,” the bank said in a statement.Photo by:Nonie Reyes

ADB raises $4.25 billion from US dollar bond market to boost OCR for 2020

byadmin
21/01/2020

The Asian Development Bank (ADB) raised a total of $4.25 billion from the US dollar bond market on Wednesday. The...

Govt, oil firms cite progress vs fuel smuggling

byadmin
13/01/2020

GOVERNMENT and oil companies have cited progress in curbing smuggling through a fuel marking program as the Department of Finance...

A man uses two smartphones at once outside a Huawei store in Beijing Monday, May 20, 2019. Google is assuring users of Huawei smartphones the American company's services still will work on them following U.S. government restrictions on doing business with the Chinese tech giant. (AP Photo/Ng Han Guan)

Huawei to shake up executive ranks in 2020 as Trump curbs bite deeper

byadmin
02/01/2020

Huawei Technologies Co. will overhaul its executive ranks next year after revenue growth slowed further in the latter half of...

Next Post

Gazprom says won't share its Europe-bound gas export monopoly

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.