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Republic Act No. 9853 Overview

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Questions and Answers

What is the minimum paid-up capital required for a corporation to be accredited by the BOC for engaging in the business of customs brokering?

Two million pesos (PHP2,000,000.00)

Three million pesos (PHP3,000,000.00)

One million pesos (PHP1,000,000.00) (correct)

Five hundred thousand pesos (PHP500,000.00)

Which section of the Republic Act No. 9280 is amended by this Act?

Section 29 (correct)

Section 26

Section 27 (correct)

Section 28

What is the purpose of a customs broker's signature on an import entry?

To indicate that the import entry has been reviewed and approved by the BOC.

To verify the accuracy of the import data and ensure legal compliance. (correct)

To ensure the importer has paid all required taxes and duties.

To authorize the importer to release the imported goods from customs custody.

According to the act, what constitutes an act of engaging in the practice of customs broker profession?

Preparing and submitting import and export documents to the BOC. (A), Representing importers and exporters in their interactions with the BOC. (D) Signup and view all the answers

Which one of these is NOT a purpose of the Act?

To promote the growth of the Philippine export sector. (B) Signup and view all the answers

Who is authorized to sign an export declaration?

Either the exporter or his authorized representative. (D) Signup and view all the answers

The act clarifies that engaging in the business of customs brokerage means:

Representing importers and exporters in their interaction with the BOC. (C) Signup and view all the answers

What is the main purpose of this Act?

To regulate the practice of customs brokerage profession in the Philippines. (A) Signup and view all the answers

Study Notes

Republic Act No. 9853

Amends Republic Act No. 9280 (Customs Brokers Act of 2004)
Revises Section 27, defining acts constituting the practice of Customs Broker profession
Import entry documents must be signed by a customs broker and the importer/owner/consignee
Export declarations may be signed by the exporter, or the exporter can delegate to a customs broker
Revises Section 29, pertaining to admission to professional practice for customs brokers.
Individual/personal qualifications are basis for admission.
Corporations are allowed to register for customs brokerage, but require at least one customs broker.
Minimum paid-up capital of PHP 1,000,000.00 for corporations engaging in customs brokerage.

Act Effectivity

Takes effect 15 days after publication in the Official Gazette or a widely-circulated newspaper.

Legislative Details

Consolidated Senate Bill No. 3396 and House Bill No. 3274
Passed by the Senate on September 28, 2009, and by the House of Representatives on October 8, 2009.

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Description

This quiz focuses on Republic Act No. 9853, which amends Republic Act No. 9280 regarding the Customs Brokers profession in the Philippines. It includes definitions, admission criteria for customs brokers, and legislative details such as the act's effectivity. Test your knowledge of the key components and implications of this law.