THE Bureau of Customs (BoC) said it will launch this week a new liquidation and billing system (LBS) at all ports of entry.
In a statement Saturday, the BoC said its Management Information Systems and Technology Group (MISTG) is launching on April 13 the LBS, “a web portal that allows the BoC Liquidation and Billing Division (LBD) to efficiently audit and evaluate the post-entry transactions of shipments, in which it effectively determines and informs consignees regarding fines, penalties, and other charges that are due for collection.”
The system will also help LBD personnel manage the Post Release Adjustment process, allowing them to verify a shipment’s details, such as value, classification, and duties and taxes, among others.
It will also allow personnel to generate documents, including a Notice of Discrepancy, which notifies users of payments outstanding on duties, taxes and other charges, and a Final Demand Letter, signed by the District Collector, as a final warning to settle outstanding charges.
The LBS aims to strengthen post-clearance audit processes, allowing ports to easily monitor and detect fraud and unpaid charges.
The BoC posted collections of P643.56 billion in 2021, exceeding the target by 4.7%. The bureau also exceeded collection targets in the first three months of 2022, which the Department of Finance attributed to the modernization and automation of its processes.
The BoC aims to collect P671.66 billion in 2022. — Tobias Jared Tomas
