Philippines' BOC files smuggling case vs Jetti Petroleum

The Philippines’ Bureau of Customs (BOC) filed a Php4.1 billion (US$94.9 million) smuggling case against Jetti Petroleum, Inc. and its key officers. BOC Commissioner Angelito Alvarez said that BOC’s Run-After-the-Smugglers team discovered that the company imported Php1.1 billion (US$25.4 million) worth of petroleum products between September 28, 2010 and May 16, 2011, and that these were cleared of customs even if the company failed to file the covering import entries during the prescribed period. Documents also show that Jetti failed to submit the required Load Port Survey (LPS) and/or Discharge Port Survey (DPS) when it imported petroleum products worth Php2.9 billion (US$67.1 million). The shipment was also cleared by customs. Alvarez said that Jetti Petroleum imported various petroleum products from June 2010 and June this year which had a combined taxable value of Php4.1 billion (US$94.9 million), which the company failed to pay. Alvarez said he had directed BOC Deputy Commissioner Gregorio Chavez, who is also the RATS executive director, to file an amended charge sheet which would include the names of customs employees who were in connivance with Jetti. Jetti was set up in 1998 and was initially a supplier of fuels to industrial firms and transport terminals. It then ventured into the fuels retailing business and became a major oil industry player in Mindanao. (September 12, 2011)