THE Bureau of Customs (BOC) generated a measly net amount of P885 million from the public auctions of forfeited goods in 2014, compared with P200 billion in revenues the government loses from smuggling.
A report released on Friday by the Customs bureau’s Public Information and Assistance Division (PAID) showed that of the total 2014 auction revenue, around 95 percent or P837 million were generated from the Port of Manila (POM) and the Manila International Container Port (MICP), the bureau’s flagship ports.
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