P4B smuggled tax stamps, cigarettes seized in Bulacan

San Ildefonso, BULACAN — Officials of the Bureau of Customs on Friday seized some P4 billion worth of smuggled tax stamps and counterfeit cigarettes in two warehouses inside Nazarene Trading Company at KM.64 Barangay Matimbubong here.

The alleged counterfeit cigarettes and smuggled tax stamps bearing the name “Mighty” and “Marvel” were seized in two warehouses owned by Mighty Corporation.

In an interview with BOC Commissioner Nicanor Faeldon, the forfeited cigarettes totaling 160,000 master cases and 80 million cigarette packs seized by the raiding team have an estimated P4-billion street value.

Faeldon said the P4-billion seized counterfeit cigarettes and tax stamps were owned by Mighty Corporation.

“This is the biggest volume that we have raided based on the previous volume we seized in San Simon in Pampanga,” the Commissioner added.

He added that the BOC will issue warrant and forfeiture of cigarettes pending computation on the excise tax of the forfeited cigarettes.

Faeldon noted that mere possession of products paid will multiple into 10 for the computation of the entire penalty.

Last November 2016, Faeldon said the BOC raiding team also raided in Vilasis, Pangasinan smuggled raw materials and tax stamps which led to the arrests of 24 Chinese working in the warehouses.

The BIR has not yet made an actual inventory of the products.

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