BOC CUSTOMS MEMORANDUM CIRCULAR NO. 344-99 MONITORING THE IMPORTATIONS OF BLACKLISTED COMPANIES August 13, 1999

Attached is the letter^*dated August 6, 1999 of the Honorable Secretary of Finance informing this Bureau that the One-stop Shop Inter-Agency Tax Credit and Duty Drawback Center hassuspendedall transactions relating to companies identified to have Fraudulently obtained Tax Credit Certificates (TCCs) as listed in the attached schedule. As such, all TCCs issued to or transferred by said companies could no longer be used as payment of any government obligation.

The Center is requesting this Bureau to closelymonitorthe importations of said blacklisted companies to make sure that whatever customs duties and taxes they incur are settled through other means and NOT by using their TCC; to report to the said office (copy furnish the Office of the Secretary) any TCC usage of these companies as they occur; andto submit a schedule of the TCC utilizationof each of these companies from July 1998 up to the present including the items for which the TCC was applied.

For your information and guidance.

Adopted: 13 Aug. 1999

(SGD.) JULITA S. MANAHAN
Deputy Commissioner
Internal Administration GroupText Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.