10 Questions
What is the main objective of filing Requests for Advance Rulings on valuation and rules of origin with the Bureau of Customs (BOC)?
To provide certainty and predictability to international trade
What is the significance of the Advance Ruling system established in line with international standards?
To align with the standards set by the Revised Kyoto Convention and other international agreements
What is one of the goals of the Advance Ruling system in terms of increasing stakeholders' compliance?
To boost compliance by providing informed customs compliance regime
Who is considered an importer according to the text?
A natural person intending to bring in goods to the Philippines
What is the deadline for filing an application for an Advance Ruling on Tariff Classification?
90 days before the date of importation or exportation
What does the term 'importation' refer to in the text?
The act of bringing goods into the Philippines from a foreign territory
What does Commission Order No. 2017-1 establish a procedure for?
Applying for an Advance Ruling on tariff classification
Under which Act is the procedure for Advance Ruling on tariff classification established?
Customs Modernization and Tariff Act
What does tariff classification refer to?
Determining the appropriate Harmonized System subheading for goods
In what scenarios will applications for an Advance Ruling be accepted?
Regarding tariff classification of goods under CMTA
Explore the definitions of foreign exporter and importer according to the laws of the Philippines. Understand the distinctions between these two roles in importing goods into the country.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
