MANILA, Philippines — The Bureau of Customs (BOC) on Friday turned over more than 300,000 pairs of vehicle license plates to the Land Transportation Office (LTO) after withholding them last year for failure of the consignee to pay taxes and duties.
This was after both agencies agreed on a deferred payment scheme wherein taxes and duties will eventually be paid, the BOC said.
However, there is no definite timeline for the payment scheme.
LTO for its part said that the scheme allowed the office to finally start distributing plates to car owners but not completely address the nationwide backlog.
At present, LTO is now preparing documents to segregate the plates per region. As soon as the plates are received, the office will release them within 15 to 30 days.
To recall, the license plates were placed on hold last year after consignee, the joint venture of Knieriem BV Goes and Power Plates Development Concept, failed to pay the estimated Php 40 million in taxes and duties.
The plates were stored in 11 container vans at the Manila International Container Port (MICP) while on hold. PNA/northboundasia.com