BOC collects over P3.6M of expected revenue from negotiated sale

MANILA, Philippines — The Bureau of Customs (BOC) has collected over P3.6 million in expected revenue from negotiated sales of various items, including a luxury vehicle.

According to the BOC on Friday, the agency conducted a negotiated sale last July 1 with accepted offers totaling P3,642,101 from Fast Cars Traders Corp. and Bengel Consumer Goods Trading.

READ: All luxury cars seized from Discaya couple sold already, says BOC

Article continues after this advertisement

The agency said that the “highlight” of the sale was the accepted offer from Fast Car Traders Corp. for a 2023 Maserati Grecale Hybrid for P2,760,000.

FEATURED STORIES

NEWSINFO

NEWSINFO

NEWSINFO

Other items included a 40-foot container with various household goods (P280,000); 20-foot container of wooden furniture (P62,000); 40-foot container of assorted commodities and household items (P53,000); solar panel set (P37,000); coffee machines, water softeners, and other merchandise (P450,001).

“All accepted offers remain subject to the final approval of the Department of Finance. Proceeds from the negotiated sale shall be remitted in accordance with applicable laws, rules, and regulations to support government programs and the delivery of public services,” the BOC said in a press release.

READ: BOC nets over P205 M from negotiated sale of 2 seized luxury cars

The BOC noted that the negotiated sale is part of the agency’s efforts to properly dispose of idle assets and generate revenue for the national government.

BOC Revenue Collection Monitoring Group deputy commissioner Arnel Alambra earlier explained that negotiated sale happens once a seized item fails to secure biddings from two previous auctions. He added that offerors submit their offers through sealed envelopes, with the agency accepting the higher offer.  /jpv

Your subscription could not be saved. Please try again.

Your subscription has been successful.