40 Questions
What is the highest amount of privilege that can be availed by a returning resident?
PhP350,000.00
How long must a returning resident have stayed abroad to be eligible for PhP250,000.00 privilege?
At least 5 years
What is the privilege amount for a returning resident who has stayed abroad for less than 5 years?
PhP150,000.00
What is the time period during which a returning resident cannot avail of the privilege again?
10 years prior to arrival
Who is eligible for the PhP350,000.00 privilege?
Those who have stayed abroad for at least 10 years
What is the purpose of the privilege for returning residents?
To encourage returning residents to settle back in the Philippines
What is the primary purpose of the Generalized System of Preference (GSP) Form A?
To exempt certain importations from taxes and duties
What type of products are exempt from taxes and duties under the GSP?
Aquatic products
What is the condition for personal and household effects to be exempt from taxes and duties?
They must not be in commercial quantities
Who is considered a 'returning resident'?
Nationals who have stayed in a foreign country for at least 6 months
What type of equipment is exempt from taxes and duties?
Equipment for use in the salvage of vessels or aircraft
What is the condition for medals and badges to be exempt from taxes and duties?
They must be bestowed as trophies or prizes
What type of goods can be brought into the Philippines for repair, processing, or reconditioning?
Goods to be reexported upon completion of the repair, processing, or reconditioning
What is the requirement for cost of repairs to be exempt from taxes and duties?
The cost of repairs excludes the value of the goods used
What is the maximum value of personal and household effects that can be brought in duty-free?
$150,000
What is the time limit for bringing in duty-free home appliances and other durables?
60 days
What type of containers are exempt from duties and taxes?
All of the above
What is the purpose of the balikbayan boxes?
For personal and household effects
What type of goods can be imported duty-free for the use of foreign embassies?
Official use
What is required for imported goods donated to the Philippine government?
All of the above
What type of goods can be imported duty-free for the use of scheduled airlines?
All of the above
What is the requirement for importing trailer chassis?
Posting a security of 100% of the duties
What type of books are exempt from duties and taxes?
All of the above
What can be imported duty-free for repair or processing?
Goods exported from the Philippines
What is the purpose of a dumping duty?
To raise the price of imported products to a level where the domestic industry can compete
What is the form of a provisional countervailing measure?
Security by cash deposit or bond
What is the effect of a countervailing duty?
To raise the price of imported products to a level where the domestic industry can compete
What is the purpose of a safeguard measure?
To protect domestic industries from surge of unexpected and unforeseen increased imports
What is the form of a provisional safeguard measure?
Tariff increase
What is the purpose of a countervailing duty?
To raise the price of imported products to a level where the domestic industry can compete
What is the difference between the normal value and the export price of the protested article?
The estimated difference between the normal value and the export price of the protested article
What is the purpose of a dumping relief measure?
To raise the price of imported products to a level where the domestic industry can compete
What is the main purpose of applying safeguard measures?
To prevent serious injury to domestic producers
What is the primary goal of setting the cash bond level?
To prevent serious injury to domestic producers
What form do definitive safeguard measures generally take?
An increase in tariffs or imposition of tariffs
What is the result of increased import competition?
Serious injury to domestic producers
What is the purpose of quantitative restrictions?
To limit the quantity of imported products
What is the basis for applying definitive safeguard measures?
Global basis
What is the Minimum Access Volume related to?
Tariff rate quotas
What is recommended to address the underlying cause of the increase in imports?
Initiation of international negotiations
Study Notes
Generalized System of Preference (GSP) - Form A
- Conditionally free importations of aquatic products, equipment for salvage of vessels or aircraft, cost of repairs, and more
- Goods brought into the Philippines for repair, processing, or reconditioning to be reexported upon completion
- Medals, badges, cups, and other small goods bestowed as trophies or prizes
- Personal and household effects belonging to returning residents who have stayed in a foreign country for at least 6 months
Returning Residents
- Returning residents are nationals who have stayed in a foreign country for at least 6 months
- Privileges include tax and duty-free importation of personal and household effects, limited to FCA or FOB value of:
- Php 350,000 for those who have stayed in a foreign country for at least 10 years
- Php 250,000 for those who have stayed in a foreign country for 5-10 years
- Php 150,000 for those who have stayed in a foreign country for less than 5 years
- Returning OFWs can bring in, tax and duty-free, home appliances and other durables, limited to one of every kind once in a given calendar year
Other Exempt Importations
- Residents of the Philippines, OFWs, or other Filipinos while residing abroad or upon their return to the Philippines can bring in or send balikbayan boxes, exempt from duties and taxes
- Wearing apparel and personal effects
- Professional instruments and implements, tools of trade, occupation, or employment
- Goods used exclusively for public entertainment, display in public expositions, or exhibition or competition for prizes
- Imported goods donated to or for the account of the Philippine government or any duly registered relief organization
- Containers, holders, and other similar receptacles made of any material
- Supplies necessary for the reasonable requirements of a vessel or aircraft in its voyage or flight outside the Philippines
- Goods and salvage from vessels recovered
- Coffins or urns containing human remains, bones, or ashes
- Samples of the kind, in such quantity and dimension as to render them unsaleable or of no commercial value
- Economic, technical, vocational, scientific, philosophical, historical, and cultural books or publications
- Philippine goods previously exported from the Philippines and returned without having been advanced in value or improved in condition
- Aircraft, equipment, and machinery spare parts, commissary, and catering supplies, aviation gas, fuel, and oil
- Machineries, equipment, tools for production, plans to convert mineral ores into saleable form, spare parts, supplies, materials, accessories, explosives, chemicals, and transportation and communications facilities
- Spare parts of vessels or aircraft of foreign registry engaged in foreign trade
Dumping Relief Measures
- Provisional dumping measure takes the form of a provisional duty or security by cash deposit or bond
- Dumping duty raises the price of the imported product to a level at which the unfair advantage enjoyed by the exporter is eliminated
Countervailing Relief Measures
- Provisional countervailing measure takes the form of a security by cash deposit or bond
- Countervailing duty raises the price of the imported product to a level at which the domestic industry can compete
Safeguard Relief Measures
- Provisional safeguard measure takes the form of a tariff increase, paid through a cash bond
- Definitive safeguard measures are applied on a global basis and may take the form of an increase in tariffs, decrease in tariff-rate quotas, or quantitative restrictions
This quiz covers the Generalized System of Preference (GSP) Form A, including conditionally free and exempt importations.
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