The Philippines’ Bureau of Customs (BOC) has seized a brand new McLaren 620R super car worth US$330,000 at the Port of Manila. The bureau said the vehicle was misdeclared in a bid to evade payment of appropriate duties and taxes.
The seizure coincides with the discovery of less exotic imports discovered to have been misdeclared at the country’s busiest port.
The McLaren super car arrived in the country from Hong Kong and was declared as a brand new Porsche Cayman sports car in an attempt to avoid the payment of the appropriate duties and taxes.
The consignee Llorin Trading declared duties and taxes amounting to the equivalent of just US$31,000 and prevented the collection of US$305,000 of government revenues according to the bureau.
The BOC has also seized shipments of misdeclared imported cigarettes, carrots, clothes and assorted merchandise shipped from China.
The misdeclared goods valued at the equivalent of US$69,000 included a shipment of carrots falsely declared as frozen pastry.
Categories: Trade Based Financial crimes News