The government may destroy unsold smuggled luxury cars, according to Dominguez.
Finance Secretary Carlos Dominguez III said that the government may destroy unsold smuggled luxury cars after 2 failed biddings for those cars to raise more money for pandemic response.
The Bureau of Customs (BOC), the Land Bank of the Philippines, and the Bureau of the Treasury were unable to dispose of five smuggled luxury cars seized last year.
It was the 2nd auction held for the smuggled luxury vehicles which the BOC had priced totaling at least PHP 29 million. Just like the first-of-its-kind auction held last December 13, 2021, the 2nd round attracted no bidders.
The smuggled luxury cars placed on the auction block included a 2001 Porsche Boxster, worth at least PHP 1.79 million; a 2008 Ferrari Scuderia 430, which had a floor price of PHP 23.2 million; and 3 Mercedes Benz units — a 2011 E220 (PHP 1.5 million), a 2001 SLK55 (PHP 1.3 million), and a 2001 SLK350 (PHP 1.2 million).
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The Bureau of Customs had wanted to generate up to PHP 30-50 million from those cars.
After again declaring failed bidding for all 5 smuggled luxury vehicles, Deputy National Treasurer Erwin Sta. Ana said that they will “seek the principal’s guidance on the next steps” — referring to Dominguez, whose Department of Finance (DOF) oversees the state-run bank and the two agencies.
When asked on Monday if destroying the “hot cars” would no longer be an option, as the Philippine government had changed its tack against vehicle smuggling to raise additional revenues, Dominguez said: “Destruction is an option.”
In the past, the Bureau of Customs destroyed confiscated smuggled vehicles to supposedly show that the Philippine government was serious in its anti-smuggling campaign.
However, BOC Assistant Commissioner and spokesperson Vincent Philip Maronilla said last month that their bosses — President Duterte and Finance Secretary Dominguez — had a change of heart amidst the prolonged pandemic.
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