(NAR) VOL. 22 NO. 2, APRIL - JUNE 2011
1. All declarations of insurance premiums (Box 9b) in connection with all 2010 importations for the immediately preceding year (2010) shall immediately be retro-verified, audited and reconciled in the light of the afore-cited sections;
2. All District Collectors shall prioritize the retrieval of the IEIRDS and their supporting documents for all 2010 importations, especially the copies of Marine Insurance policies and furnish the Collection Service (CS), Revenue Collection Monitoring Group (RCMG) with authenticated copies thereof;
3. All Chiefs, FEDS (or their equivalent units) in all collection districts shall immediately retro-verify said documents in the light of the said CMO 22-2007. Should discrepanices be discovered, the District Collectors may allow the importers to adjust and effect correction of errors in order to reflect the actual insurance premium paid for the shipment in question, and advising the CS of the re-adjusted or upgraded assessment for purposes of monitoring and closure; and
4. Should the importers fail to effect correction of errors and re-adjustment of assessments despite due notice, the Collection Service may, in the conduct of liquidation audit, recommend the “TIN-block” of the delinquent importers through the facility of the ICARE, the imposition of Section 1508, or order the production of records/documents, as well as resort to other available administrative remedies in order to protect the interest of the government.