Podcast
Questions and Answers
What is the purpose of PCAG-TIRAO's audit examination, inspection, and investigation of records?
What is the purpose of PCAG-TIRAO's audit examination, inspection, and investigation of records?
- To monitor the physical movement of goods
- To assess the environmental impact of imported goods
- To negotiate trade agreements with other countries
- To determine the liability of the importer for duties and taxes (correct)
What does PCAG-TIRAO review to establish compliance markers and set benchmarks for developing an audit program?
What does PCAG-TIRAO review to establish compliance markers and set benchmarks for developing an audit program?
- Available trade data (correct)
- Imported goods' physical characteristics
- Environmental impact assessments
- Social media platforms
When is PCAG mandated to conduct an audit examination of records after customs clearance?
When is PCAG mandated to conduct an audit examination of records after customs clearance?
- Immediately upon customs clearance
- After five years from customs clearance
- At the discretion of the importer
- Within three years from the date of final payment (correct)
What documentation does the PCAG examine during its audit?
What documentation does the PCAG examine during its audit?
Where does the PCAG focus its audit efforts after reviewing available trade data?
Where does the PCAG focus its audit efforts after reviewing available trade data?
What is one of the functions of PCAG-TIRAO in ensuring compliance with customs regulations?
What is one of the functions of PCAG-TIRAO in ensuring compliance with customs regulations?
What does CAO No.O[-2019 aim to implement?
What does CAO No.O[-2019 aim to implement?
Who is required to keep records according to the content?
Who is required to keep records according to the content?
What is the purpose of the post clearance audit system?
What is the purpose of the post clearance audit system?
What are the adverse consequences of non-compliance with customs rules and regulations?
What are the adverse consequences of non-compliance with customs rules and regulations?
What is the period covered by the conduct of audit as per the content?
What is the period covered by the conduct of audit as per the content?
What is the objective of the Prior Disclosure Program (PDP)?
What is the objective of the Prior Disclosure Program (PDP)?
What is the term used to refer to a plea for re-evaluation of audit findings based on existing records without additional evidence?
What is the term used to refer to a plea for re-evaluation of audit findings based on existing records without additional evidence?
In the context of the text, what is 'Undervaluation' defined as?
In the context of the text, what is 'Undervaluation' defined as?
What is the term used for a plea in the customs clearance process to reevaluate audit findings with newly discovered evidence?
What is the term used for a plea in the customs clearance process to reevaluate audit findings with newly discovered evidence?
Which section mandates the audit of importers, locators, and all parties engaged in customs clearance and processing?
Which section mandates the audit of importers, locators, and all parties engaged in customs clearance and processing?
What situation does 'Undervaluation' refer to in the context of customs processes?
What situation does 'Undervaluation' refer to in the context of customs processes?
What is the term used for a situation when the declared value doesn't reveal the actual price paid, leading to a discrepancy in duty and tax to be paid?
What is the term used for a situation when the declared value doesn't reveal the actual price paid, leading to a discrepancy in duty and tax to be paid?
