24 Questions
Which of the following is required to increase the face value of the original GTSB?
Presentation of the original Bond and Official Receipt to PEZA
How long is the validity period of the GTSB?
One year
What happens in the event of an increase in the value of goods actually transferred after a six-month period?
The originating PEZA-registered enterprise shall increase the face value of the original GTSB
What is the purpose of presenting the original Bond and Official Receipt to PEZA?
To authenticate the copy of the GTSB submitted to PEZA
What is the role of BOC in the process of increasing the face value of the GTSB?
Approval of the GTSB
Is there a need for the BOC to check the GTSB after increasing its face value?
No
What is GTSB?
Goods Transfer and Services Bond
What happens if the GTSB expires before the goods are transferred?
The originating-PEZA enterprise needs to apply for a new GTSB
What is the definition of 'transfer of goods' for the purpose of this Order?
The movement of goods from a PEZA-registered enterprise to another PEZA-registered enterprise located within the same PEZA economic zone or in another PEZA economic zone
What types of transfers of goods are covered by this Order?
All types of transfers of goods, including but not limited to constructive exports, farm-out for sub-contracting, and permanent and temporary transfers of goods and documents
Who operates the eZTS according to this Order?
PEZA-accredited VASPs
What is the purpose of the Electronic Letter of Authority (eLOA)?
To provide clearance and release of goods for transfer
What is the scope of this Order?
It applies to transfers of goods within and between PEZA economic zones
Who can request a LOA according to this Order?
Only PEZA-registered enterprises transferring goods within the purview of this Order
What is the significance of a PEZA-registered enterprise in the context of this Order?
It is a type of enterprise that is exempt from taxes and duties on goods transferred within a PEZA economic zone
What is the eZTS according to this Order?
An electronic system for tracking and facilitating the transfer of goods
Which document consolidates and replaces several PEZA permits for transferring goods?
Electronic Zone Transfer Document
What is the purpose of the General Transportation Surety Bond (GTSB)?
To guarantee the direct and faithful delivery of goods from the PEZA economic zone-location of the originating PEZA-registered enterprise to the intended recipient PEZA-registered enterprise or to another facility of the originating PEZA-registered enterprise located in another PEZA economic zone
What is the requirement for PEZA-registered enterprises transferring goods within the purview of the order?
To enroll in the eZTS through a PEZA-accredited VASP
What permits does the eZTD replace?
Permit to Bring Goods from the Customs Territory into the Ecozone and Permit to Bring Goods from the Ecozone into the Customs Territory
What is the purpose of the affidavit to be issued by the duly authorized official of the enterprise?
To indicate the total estimated value of all goods to be transferred for a three (3)-month period
What is the equivalent value of the GTSB for intra-zone transfers?
Not required
Who is responsible for all applications for e-LOA and e-ZDTS electronically filed in its name?
PEZA-registered enterprise
What is the purpose of the PEZA Boatnote-Transshipment Permit?
To allow goods to be in transit while being transferred
Test your knowledge on the rules and regulations governing the transfer of goods for PEZA-registered enterprises. This quiz will cover the procedures and requirements for intra-zone and inter-zone transfers, as well as the conditions for tax and duty-free clearance and release of goods. Sharpen your understanding of the transfer process with this informative quiz.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
