House Passes Bill To Strengthen Fight Against Agricultural Smuggling
Photo credit: Congress PH
The House of Representatives, led by Speaker Ferdinand Martin Romualdez, has unanimously approved House Bill (HB) 9284 on its third and final reading.
The bill, certified as urgent by the President, aims to expand the provisions of Republic Act (RA) 10845, commonly known as the "Anti-Agricultural Smuggling Act of 2016."
The bill seeks to declare large-scale agri-fishery commodities and tobacco smuggling, hoarding, profiteering, cartelizing, and other acts of market abuse as economic sabotage.
Under the provisions of the newly approved bill, the crime of large-scale agri-fishery commodities or tobacco smuggling as economic sabotage will be committed when the aggregate fair market value of agri-fishery products reaches P2.5 million.
Additionally, the bill considers smuggling of tobacco products with a minimum excise tax or value-added tax payable amounting to P1 million as an act of economic sabotage.
Individuals found guilty of large-scale smuggling, hoarding, profiteering, cartelizing, or other acts of market abuse could face life imprisonment and a fine equal to six times the fair market value of the smuggled agri-fishery commodities or tobacco.
This fine would also encompass the aggregate amount of taxes, duties, and other charges avoided, along with interest at the prevailing legal rate.