Customs Modernization and Tariff Act Overview
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Customs Modernization and Tariff Act Overview

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Questions and Answers

Which of the following is NOT a declared policy of the State under SEC. 101?

  • Adopt clear customs rules and regulations
  • Prevent and curtail any form of customs fraud
  • Limit international trade (correct)
  • Enhance government revenue
  • What is the short title of Republic Act No. 10863?

    Customs Modernization and Tariff Act (CMTA)

    What is an 'Authorized Economic Operator' (AEO)?

    An importer, exporter, customs broker, forwarder, or any entity accredited by the Bureau based on international standards

    What does the term 'Abatement' refer to in the context of customs?

    <p>Reduction or diminution of duties and taxes where payment has not been made</p> Signup and view all the answers

    An __________ refers to the customs procedure applicable to goods leaving the Philippine territory intended to remain permanently outside it.

    <p>Actual or Outright Exportation</p> Signup and view all the answers

    What is the role of the 'Bureau' as defined in this Act?

    <p>The Bureau of Customs</p> Signup and view all the answers

    Study Notes

    Title I: Preliminary Provisions

    • Short title: Republic Act No. 10863 is called the "Customs Modernization and Tariff Act (CMTA)".
    • Declaration of policy:
      • The State aims to enhance government revenue and make customs & tariff management fair and efficient.
      • To facilitate international trade, prevent fraud, and modernize administration.
      • This should be achieved by:
        • Improving customs systems and processes.
        • Implementing clear and transparent customs rules.
        • Ensuring transparency and access to customs information.
        • Collaborating with other government agencies and the private sector.
        • Providing fair and timely remedies for customs grievances.
        • Employing modern customs practices and ICT.
        • Promoting professionalism and meritocracy in customs tax administration.
    • Definitions:
      • Abatement: Reduction or cancellation of duties and taxes.
      • Actual or Outright Exportation: Customs procedure for goods leaving Philippine territory permanently.
      • Admission: Bringing imported goods into a free zone directly or through transit.
      • Airway Bill (AWB): Transport document for airfreight specifying the consignee's right to claim delivered goods. Includes carriage contract, transport instructions, goods description, and charges.
      • Appeal: Remedy for redress regarding Bureau actions, decisions, orders, or omissions through the Bureau, Finance Secretary, or court.
      • Assessment: Process of determining duties, taxes, and charges on imported/exported goods.
      • Authorized Economic Operator (AEO): Importer, exporter, customs broker, forwarder, etc., accredited based on WCO standards to facilitate trade and secure supply chains.
      • Bill of Lading (B/L): Transport document issued by shipping lines specifying the consignee's right to claim delivered goods. Includes carriage contract, transport instructions, goods description, and charges.
      • Bureau: The Bureau of Customs.
      • Carrier: Person or entity transporting goods, like airlines, shipping lines, freight forwarders, and cargo consolidators.
      • Clearance: Completing customs and other government formalities for goods entering for consumption.

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    Related Documents

    CMTA-RA-10863-2 PDF

    Description

    This quiz covers the key provisions of Republic Act No. 10863, known as the Customs Modernization and Tariff Act (CMTA). It explores the policy declarations, definitions, and the goals of enhancing revenue and improving customs processes. Test your knowledge on modern customs practices and their implications for international trade.

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