‘Probe undervalued rice imports’

THE Federation of Free Farmers (FFF) has reiterated its call on the government to investigate the alleged undervaluation of tariff collection from rice imports, which may have caused at least P1.6 billion in forgone revenue.

In a statement on Friday, the FFF said the tariff collections could have been higher by P1.6 billion from January to July this year if not because of what they claim “anomalous circumstances” namely, “the declaration of import values lower than the BoC’s (Bureau of Customs) reference values, the understatement of freight costs, and the erroneous application of tariff rates on rice imports.”