PEZA EZTS Transfer of Goods Quiz & Flashcards

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Questions and Answers

Which of the following is required to increase the face value of the original GTSB?

Checking of the GTSB by the BOC

Approval of the GTSB by the BOC

Presentation of the original Bond and Official Receipt to PEZA (correct)

Furnishing of PEZA a copy of the GTSB

How long is the validity period of the GTSB?

Two years

Six months

One year (correct)

Three years

What happens in the event of an increase in the value of goods actually transferred after a six-month period?

The face value of the original GTSB decreases

The originating-PEZA enterprise shall furnish PEZA a copy of the GTSB

The originating PEZA-registered enterprise shall increase the face value of the original GTSB (correct)

The GTSB becomes invalid

What is the purpose of presenting the original Bond and Official Receipt to PEZA?

To authenticate the copy of the GTSB submitted to PEZA Signup and view all the answers

What is the role of BOC in the process of increasing the face value of the GTSB?

Approval of the GTSB Signup and view all the answers

Is there a need for the BOC to check the GTSB after increasing its face value?

No Signup and view all the answers

What is GTSB?

Goods Transfer and Services Bond Signup and view all the answers

What happens if the GTSB expires before the goods are transferred?

The originating-PEZA enterprise needs to apply for a new GTSB Signup and view all the answers

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 Signup and view all the answers

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 Signup and view all the answers

Who operates the eZTS according to this Order?

PEZA-accredited VASPs Signup and view all the answers

What is the purpose of the Electronic Letter of Authority (eLOA)?

To provide clearance and release of goods for transfer Signup and view all the answers

What is the scope of this Order?

It applies to transfers of goods within and between PEZA economic zones Signup and view all the answers

Who can request a LOA according to this Order?

Only PEZA-registered enterprises transferring goods within the purview of this Order Signup and view all the answers

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 Signup and view all the answers

What is the eZTS according to this Order?

An electronic system for tracking and facilitating the transfer of goods Signup and view all the answers

Which document consolidates and replaces several PEZA permits for transferring goods?

Electronic Zone Transfer Document Signup and view all the answers

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 Signup and view all the answers

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 Signup and view all the answers

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 Signup and view all the answers

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 Signup and view all the answers

What is the equivalent value of the GTSB for intra-zone transfers?

Not required Signup and view all the answers

Who is responsible for all applications for e-LOA and e-ZDTS electronically filed in its name?

PEZA-registered enterprise Signup and view all the answers

What is the purpose of the PEZA Boatnote-Transshipment Permit?

To allow goods to be in transit while being transferred Signup and view all the answers

Study Notes

General Transportation Surety Bond (GTSB)

GTSB is a financial guarantee required for transferring goods within certain regulations.
Increasing the face value of the original GTSB requires formal application submission, potentially additional documentation, and approval from the appropriate authorities.

Validity Period

The GTSB has a validity period of six months.
If goods are not transferred within this timeframe, measures must be taken to address the status of the GTSB.

Increase in Value of Goods

If the value of goods transferred increases after the six-month validity period, the enterprise must reassess its GTSB and possibly apply for an increase.

Purpose of Bond and Official Receipt

Presenting the original Bond and Official Receipt to the Philippine Economic Zone Authority (PEZA) is necessary for the validation of transactions and compliance with regulations.

Role of BOC

The Bureau of Customs (BOC) plays a crucial role in overseeing and formalizing the process for increasing the face value of the GTSB.
BOC performs checks to ensure compliance following the request for a face value increase.

Expiration of GTSB

If the GTSB expires before the goods are transferred, the enterprise risks penalties or additional requirements to secure further transfers.

Definition and Types of Goods Transfer

'Transfer of goods' refers to the movement of items across zones or facilities under PEZA jurisdiction.
Covered types of transfers include intra-zone, transshipment, and other regulated movements established by PEZA policies.

eZTS and eLOA

The Electronic Zone Transfer System (eZTS) streamlines documentation processes for transfers of goods.
The Electronic Letter of Authority (eLOA) is a digital approval necessary for specific transactions, ensuring regulatory compliance.

Order Scope and LOA Request

The scope of the order encompasses all regulations and guidelines pertaining to the transfer of goods under PEZA.
Only PEZA-registered enterprises can request a Letter of Authority (LOA) for transfers.

PEZA-Registered Enterprises

PEZA-registered enterprises are significant as they are authorized to engage in regulated activities concerning goods transfer.

Affidavit Purpose

An affidavit issued by an authorized official confirms compliance and intent regarding transactions under the enterprise's purview.

eZTD Documentation

The e-Zone Transfer Document (eZTD) consolidates multiple PEZA permits that were previously needed for transferring goods.

Intra-Zone Transfer Value

The equivalent value of the GTSB for intra-zone transfers is determined based on regulatory guidelines.

Application Responsibility

PEZA-registered enterprises are responsible for all applications for e-LOA and e-ZDTS filed electronically in their name.

PEZA Boatnote-Transshipment Permit Purpose

The PEZA Boatnote-Transshipment Permit facilitates the legal and regulated movement of goods temporarily or through transportation means.

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Description

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.

PEZA Transfer of Goods Quiz