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Questions and Answers
What is the requirement for goods admitted for storage in a customs bonded warehouse or for outright exportation at the port of destination or inland customs office in terms of duties and taxes?
What is the requirement for goods admitted for storage in a customs bonded warehouse or for outright exportation at the port of destination or inland customs office in terms of duties and taxes?
- They are exempt from the payment of duties and taxes at the port of entry. (correct)
- They must pay duties and taxes at the port of discharge.
- They are subject to the payment of duties and taxes at the port of entry.
- They are exempt from all duties but must pay taxes at the port of entry.
What is the time limit for goods admitted for transshipment to be exported from the Philippines?
What is the time limit for goods admitted for transshipment to be exported from the Philippines?
- 30 days (correct)
- 15 days
- 25 days
- 20 days
Under what condition may the Commissioner allow an extension of the 30-day export period for goods admitted for transshipment?
Under what condition may the Commissioner allow an extension of the 30-day export period for goods admitted for transshipment?
- Only upon payment of an extension fee.
- After valid reasons have been established. (correct)
- Only if all duties and taxes have been paid in advance.
- No extensions are allowed under any circumstances.
Which type of goods intended for transit covered by Republic Act No. 10668 are exempt from the payment of duties and taxes at the port of entry?
Which type of goods intended for transit covered by Republic Act No. 10668 are exempt from the payment of duties and taxes at the port of entry?
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What happens to goods intended for consumption and other goods intended for customs transit not covered by Republic Act No. 10668?
What happens to goods intended for consumption and other goods intended for customs transit not covered by Republic Act No. 10668?
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