BIZ BUZZ: Naia parking saga continues
If you thought the parking drama at the country’s main gateway is over, you’re in for a ride.
Although higher overnight parking fees at Ninoy Aquino International Airport (Naia) had already been implemented, there are 20 cars that have nevertheless been overstaying in “various parking facilities,” possibly incurring hundreds of thousands of pesos in fees.
How long have these cars been there exactly? Well, some of these vehicles have been sitting in the parking lots since 2014, according to New Naia Infra Corp. (NNIC).
“These abandoned vehicles are taking up space that should be available for passengers,” NNIC said in a statement on Thursday. “They are also a security and safety concern, especially in their deteriorating states.”
NNIC, the private sector consortium in charge of rehabilitating Naia, has gone as far as waiving fees to “encourage owners” to reclaim these cars.
They just need to show proof of ownership (perhaps the mighty Official Receipt/Certificate of Registration?) and valid identification to get their vehicles back.
Article continues after this advertisementShould the owners opt not to claim them after an unspecified “grace period,” the cars will be towed and impounded at government facilities, NNIC said.
Article continues after this advertisementWill somebody actually come get them? Let’s see! —MEG J. ADONIS
Vape tax goes up in smoke?
There has apparently been growing frustration at the Bureau of Internal Revenue (BIR) over the Department of Trade and Industry’s (DTI) Office for the Special Mandate on Vaporized Nicotine and Non-Nicotine Products’ (OSMV) recent crackdown on vape importers.
Tasked with implementing the Vape Law, the OSMV has reportedly suspended the licenses of all but one vape importer, alleging violations related to BIR tax stamps.
This heavy-handed approach, BIR insiders claim, can cause a significant dent in the agency’s vape tax collection efforts.
The issue, sources say, lies in the OSMV’s interpretation of “packaging requirements.”
Despite importers having paid the required excise taxes and possessing valid BIR Taxpayer’s Removal Declarations, the OSMV contends that the mere absence of a physical tax stamp on vape products already constitutes a violation.
This stance, critics argue, is a potential overreach of the OSMV’s mandate and encroaches on BIR’s jurisdiction over tax-related matters.
With licensed importers barred from selling their products, an estimated P500 million in excise taxes already paid to the BIR in advance is effectively locked up
What’s more, the regulatory uncertainty is likely to discourage “underground” vape companies from legitimizing their operations, fearing similar arbitrary suspensions.
The situation presents a double whammy for BIR and the Philippine economy. Not only are projected tax revenues going up in smoke, but the growth of a potentially significant tax-generating industry is being stifled.
As the country grapples with a national debt exceeding P15 trillion, such internal conflicts and regulatory inconsistencies are deemed counterproductive.
Unless the DTI and the BIR can quickly resolve the impasse and establish clear, nonoverlapping regulatory frameworks, the Vape Law’s potential to generate much-needed revenue will remain unrealized.
The clock is ticking, and with vape products having a limited shelf life, the industry’s frustration is understandable. Will common sense prevail, or will this regulatory tug-of-war continue to burn a hole in the nation’s pocket? —Tina Arceo-Dumlao
