Customs Audit Procedure in the Philippines

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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?

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?

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?

Goods declaration, statements, documents, and data Signup and view all the answers

Where does the PCAG focus its audit efforts after reviewing available trade data?

On setting benchmarks for compliance assessment Signup and view all the answers

What is one of the functions of PCAG-TIRAO in ensuring compliance with customs regulations?

Developing an audit program for the Commissioner's approval Signup and view all the answers

What does CAO No.O[-2019 aim to implement?

Post clearance audit functions and Prior Disclosure Program Signup and view all the answers

Who is required to keep records according to the content?

Importers, Customs Brokers, and Locators Signup and view all the answers

What is the purpose of the post clearance audit system?

To strengthen customs controls and ensure compliance Signup and view all the answers

What are the adverse consequences of non-compliance with customs rules and regulations?

Sanctions and penalties Signup and view all the answers

What is the period covered by the conduct of audit as per the content?

12 months from import date Signup and view all the answers

What is the objective of the Prior Disclosure Program (PDP)?

To promote compliance and revenue collection Signup and view all the answers

What is the term used to refer to a plea for re-evaluation of audit findings based on existing records without additional evidence?

Reconsideration of Audit Findings Signup and view all the answers

In the context of the text, what is 'Undervaluation' defined as?

Incorrect valuation method use Signup and view all the answers

What is the term used for a plea in the customs clearance process to reevaluate audit findings with newly discovered evidence?

Reinvestigation of Audit Findings Signup and view all the answers

Which section mandates the audit of importers, locators, and all parties engaged in customs clearance and processing?

Section 3.14 Signup and view all the answers

What situation does 'Undervaluation' refer to in the context of customs processes?

Incorrect valuation method use Signup and view all the answers

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?

'Undervaluation' Signup and view all the answers

Customs Audit Procedure in the Philippines

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