The Land Transportation Office (LTO) urges vehicle and car parts importers need to get their papers in order. At the same time, it has fired warning shots at fraudsters within MAIRDOEs (Manufacturers, Assemblers, Importers, Rebuilders, Dealers And Other Entities).
That’s because the LTO has just received approval to impose higher fines and penalties for ‘erring dealers and importers’. The move for higher penalties was approved by DOTr secretary, Jaime Bautista. It comes from calls from the LTO in order to deter dubious practices and mishandling of paperwork.
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The following offenses now carry a harsher punishment. The first one of for ‘Commission of fraud and misrepresentation in the filing of the application and its operations, including stock and sales reporting’, while the second is for ‘the submission of fraudulent, fake or falsified stock/sales periodic reports as required by law, rules and regulations.’
From now in, the minimum fine for either offenses is P500,000. That’s on top of the suspension of the dealer/importer’s Certificate of Accreditation and the cancellation of its Certificate of Stock Reported. The dealer’s sales report and vehicle registrations will also be cancelled.
For the second offense, erring dealers and importers face blacklisting for one year. That’s also on top of the other punishments handed out from the first offense. Erring MAIRDOEs will also be locked out of their respective LTO Online Portal accounts during the suspension period and/or until the settlement of the fine.
