BIR releases guidelines to dispose seized goods

Quick Summary:

AS the government intensified enforcement operations against the illicit trade of excise-taxed items, the Bureau of Internal Revenue (BIR) has released new guidelines for the disposal of seized goods.

For personal properties, the above requirements can be dispensed with for purposes of entering into a negotiated or private sale of seized/forfeited items.

Lumagui said the BIR issued the RMO to adopt and implement uniform guidelines and procedures on the “Modes of Disposition of Seized/Forfeited Articles” pursuant to Revenue Regulation 14-2024.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Items Revenue Other Internal Commissioner Public Seized/forfeited Subject Goods Disposition Storage

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-01 @ 16:07:00 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 500 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22323779

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Main Topics: BusinessStartups

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