Audit Notification Letter Guidelines Quiz
12 Questions
3 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the maximum period allowed for the revalidation of an ANL by the assistant commissioner?

  • 60 days (correct)
  • 90 days
  • 45 days
  • 120 days

    • When must a demand letter for payment of deficiency be sent by PCAG to the identified company?

  • Within 20 days from receipt
  • Within 10 days from receipt
  • Within 30 days from receipt
  • Within 15 days from receipt (correct)

    • What is the deadline for an importer to file a request for reconsideration to the BOC Commissioner after receiving a demand letter?

  • 5 days
  • 20 days
  • 15 days (correct)
  • 10 days

    • How long does the BOC have to furnish the DOF and BIR with a copy of the final audit results and amount paid by the importer?

    <p>30 days</p> Signup and view all the answers

    What is the consequence for a PDP applicant if they do not receive an ANL after filing an approved PDP application?

    <p>They pay the deficient amount due plus legal interest of 20% per annum.</p> Signup and view all the answers

    When does a PDP applicant only pay the deficient amount due without any penalty or interest?

    <p>Within 30 days from the date of payment or accrual of royalties.</p> Signup and view all the answers

    What action will be taken by PCAG if there are findings of fraud or violations not disclosed in the PDP application?

    <p>Recommend to the BOC Commissioner for a formal audit.</p> Signup and view all the answers

    What is the consequence if a PDP applicant receives an ANL after filing an approved PDP application?

    <p>They pay the deficient amount due and a penalty of 10% of the base deficiency.</p> Signup and view all the answers

    What is the purpose of the Post Clearance Audit group (PCAG) according to CAO No. 01-2019?

    <p>To conduct audits on importers, beneficial owners, customs brokers, and other parties involved in customs clearance.</p> Signup and view all the answers

    What are the selection criteria for a company to undergo Post Clearance Audit (PCA) as per CAO No. 01-2019?

    <p>The company's relative magnitude of customs revenue, rates of duties, compliance track records, and risk to revenue.</p> Signup and view all the answers

    Which units are responsible for conducting audits under Post Clearance Audit (PCA) according to CAO No. 01-2019?

    <p>Trade Information and Risk Analysis Office (PCAG-TIRAO) and Compliance Assessment Office (PCAG-CAO).</p> Signup and view all the answers

    What is considered in the selection criteria for Post Clearance Audit according to CAO No. 01-2019?

    <p>The compliance level of a trade sector and non-renewal of an importer’s customs accreditation.</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser