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Questions and Answers
What is the responsibility of operators in case of loss of stored articles in a CBW?
What is the responsibility of operators in case of loss of stored articles in a CBW?
- Operators are legally responsible (correct)
- Government assumes full responsibility
- No one is responsible for the loss
- Responsibility falls on the Secretary of DOF
How long is the validity of a License to Operate an Ordinary Warehouse?
How long is the validity of a License to Operate an Ordinary Warehouse?
- 5 years
- 1 year
- 2 years (correct)
- 3 years
What is the annual supervision fee for a Duty-Free warehouse?
What is the annual supervision fee for a Duty-Free warehouse?
- P200,000
- P100,000
- P150,000
- P250,000 (correct)
Which type of industry/enterprise pays a supervision fee of P50,000?
Which type of industry/enterprise pays a supervision fee of P50,000?
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What does a Customs Bonded Manufacturing Warehouse (CBMW) manufacture for?
What does a Customs Bonded Manufacturing Warehouse (CBMW) manufacture for?
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Study Notes
Operator Responsibilities in CBW
- In case of loss of stored articles in a Customs Bonded Warehouse (CBW), operators are responsible for the loss.
Licence to Operate an Ordinary Warehouse
- A License to Operate an Ordinary Warehouse is valid for a specified period of time, which is not permanent.
Annual Supervision Fee for a Duty-Free Warehouse
- The annual supervision fee for a Duty-Free warehouse is a specific amount that must be paid.
Supervision Fee for Specific Industries/Enterprises
- Certain industries or enterprises are required to pay a supervision fee of P50,000.
Customs Bonded Manufacturing Warehouse (CBMW)
- A Customs Bonded Manufacturing Warehouse (CBMW) manufactures goods for export purposes only.
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