Posted On 04 Sep 2017
Customs authorities were encouraged to investigate the undervaluation of imported products because these pay very low tariffs and yet, the final customer is not benefited with these “economic prices.”
Among the products that cost cents in the country of origin are socks ($ 0.05), which are sold at $ 4 in Ecuador; toothbrushes ($ 0.02), which have a final cost of $ 1. And the outstanding example is the import of light bulbs, which declare a price of $ 0.03 and are sold in warehouses at $ 1.50 or more. In this case, the price increases 80 times, and this has no logic, the authorities emphasize.
Importers who have incurred in this fraud shall voluntarily pay the right price and taxes. Otherwise, in a short time, the names of the companies will be announced, and the cases will be handled legally, which may include, in addition to the amount to be paid, imprisonment.
Another example of undervaluation of a product that stands out is that a pair of shoes is declared with a price of $ 5.15 at the Customs office, but costs $ 40 in stores. (I)