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Obviously, they did it to avoid paying more taxes.
“According to the Bureau of Customs (BOC), some importers have declared that a can of Spam has an import value of just PHP5 when it costs nearly PHP100 at a supermarket,” reports ABS-CBNnews.com.
The report added that importers of Ma Ling have also used the same trick. Putting the price of a can of the luncheon meat at just PHP3, when it costs PHP60.50 to PHP75.05 at the supermarket.
In their Tax Watch ad “How can there be a PHP5 can of Spam and PHP3 can of Ma Ling?,” the BOC identified the importers who have priced the said products at unbelievable prices.
The report noted: “The Department of Finance (DOF) and BOC have been issuing a series of Tax Watch ads to highlight the questionable practices of some importers.”
Lusitano Inc., D8 General Enterprises and Federated Distributors, that declared that a 340g can of Spam only has an import value of around PHP5.
To be specific Lusitano declared the value of a can of Spam at PHP5.15, while De General declared it as PHP4.99 and Federated declared it as PHP5.35.
Meanwhile, four importers — Composite Enterprises, Federated Distributors, Matlock Import Trading, and Sysreg Enterprises — declared the import value of Ma Ling as between PHP3.07 to PHP3.88.
Photo: ProfitGuide.com
