Wednesday, December 06, 2006 Japan broadcast firm seeks tax exemption for equipment
THE Japan Broadcasting Corp., which will cover the Asean summit on Dec. 10 to 14, has sent its equipment to Cebu and applied for tax exemption from the Bureau of Customs (BOC) Sub-Port of Mactan.
Eleazar Cesista, head of the revenue express lane of the Department of Finance (DOF), has advised Customs Commissioner Napoleon Morales that the equipment of the broadcast network may be released as long as it puts up cash bond.
Cesista said the bond must be 1.5 percent times the ascertained duties, taxes and other charges.
DOF’s approval of the tax exemption was forwarded by the BOC in Manila to Mactan Sub-Port Collector Ernesto Urbano, which will be the basis for the release of the equipment.
The condition for the tax exemption is for the foreign media to bring back the equipment to Japan within two months from the date the import entry was accepted by customs authorities.
BMW Philippines Corp. has also applied for tax exemption on various service and parts for BMW security vehicles, which will be used for testing and demonstration purposes during the 12th Asean summit.
Earlier, Undersecretary Phineas Alburo of the Department of Tourism (DOT) said that high-end luxury cars, such as BMW and Mercedes Benz, will be used by different heads of state during the gathering next week.
DOT Undersecretary Gaudencio Mendoza Jr. said the finance department may conduct post-release inspection to monitor tax-exempt goods.
The Panasonic Manufacturing Philippines Corp. based in Taytay, Rizal, has also applied for tax exemption on its shipment of six cartoons of Plasma TV will also be used for the summit. (EOB)
