A RARE Porsche 918 Spyder worth millions of pesos is at the center of a joint investigation by the Land Transportation Office (LTO) and Bureau of Customs (BOC) after authorities found discrepancies in its importation records and the alleged use of an unauthorized license plate.
The case began with an LTO investigation into the vehicle’s plate.
Under LTO Assistant Secretary Markus Lacanilao, the agency issued a show cause order (SCO) on Aug. 13 directing the concerned party to explain the alleged violation.
Four days later, the Porsche was surrendered to the LTO and impounded.
The driver also appeared before the agency, submitted a Verified Answer, and surrendered his or her driver’s license.
The license was suspended for 90 days, and both the car and license were placed under alarm status.
The investigation took a more serious turn when the LTO asked Customs to check the Porsche’s importation records.
The Customs records revealed a striking discrepancy: the vehicle’s first import entry, filed in September 2021, described it as a brand-new Porsche Boxster.
But the corresponding Certificate of Payment (COP) and the vehicle’s initial LTO registration identified its Customs entry as a 918 Spyder.
Even more significant was the difference in the declared dutiable value.
The 918 Spyder, a limited-production hybrid “hyper car,” was valued at P48.02 million, and the Boxster at P3.26 million.
The discrepancy prompted Customs Commissioner Ariel Nepomuceno to order an investigation, saying the case highlights the need for tighter digital safeguards and closer coordination among government agencies responsible for regulating imported vehicles.
Customs is looking at a possible violation of Section 1400 of Republic Act 10863, or the Customs Modernization and Tariff Act (CMTA).
The provision covers fraudulent, false or erroneous declarations involving imported goods and carries substantial penalties.
Nepomuceno credited the LTO for promptly coordinating with Customs after the discrepancies surfaced.
The case also underscores the importance of accurate vehicle documentation, since a Customs declaration serves as a critical basis for determining duties and taxes imposed on imported vehicles.
The Porsche remains under LTO custody.