John Myers Jr., Staff Reporter
Hector Jones (right), commissioner of Customs engages Vinnette Keane, acting director general of the Tax Administration Department in a conversation during the annual Customs Seminar put on by the Jamaica Chamber of Commerce at the Pegasus Hotel, New Kingston yesterday. - WINSTON SILL/FREELANCE PHOTOGRAPHER
COMMISSIONER OF Customs, Hector Jones, says a large number of companies have been breaching the Customs Regulations by under- invoicing the value of their imports by as much as 50 per cent in an effort to avoid paying the correct duties.
"Too many people are giving us 50 per cent and up to 10 per cent of the true value (of imported) goods ... it is that serious," Mr. Jones told the annual Customs Seminar, held at the Pegasus Hotel, New Kingston, yesterday.
"We respect our trading partners, we respect our clients, (but) what we are asking of you is cheaper to go the correct route," he advised.
The Customs commissioner said his department was currently investigating one importer who had under-invoiced his goods by as much as $95 million. He said a number of companies that have been suspected of committing this breach were being audited by his department. The Commissioner warned that the department had up to two years to conduct its investigations and urged those guilty to come in and discuss a settlement with him.
"We have up to two years in which to do those valuation audits so don't worry yourself we will get to you. If we haven't touched you yet, call me I'll speak to you," Mr. Jones urged.
GOV'T DEPRIVED OF REVENUE
While unable to say how much was being lost as a result of the illegal practice, Mr. Jones said the Government was being deprived of revenue. In the meantime he said the Customs Department was on target to collect $53 billion in revenues this year.
This is 25 per cent, or $13.3 billion, more than what it collected last year. According to Mr. Jones, Customs has consistently increased the amount of revenue it collects at the island's ports of entry over the past three years.
