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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?
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?
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?
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?
According to the act, what constitutes an act of engaging in the practice of customs broker profession?
Which one of these is NOT a purpose of the Act?
Which one of these is NOT a purpose of the Act?
Who is authorized to sign an export declaration?
Who is authorized to sign an export declaration?
The act clarifies that engaging in the business of customs brokerage means:
The act clarifies that engaging in the business of customs brokerage means:
What is the main purpose of this Act?
What is the main purpose of this Act?
Flashcards
What constitutes the 'practice' of Customs Broker profession?
What constitutes the 'practice' of Customs Broker profession?
The act of engaging in the customs broker profession, as defined in this act, is constituted by any single act or transaction that falls under the provisions of Section 6 of this act.
What is required for an import entry signing?
What is required for an import entry signing?
The signing of an import entry by both a customs broker and the consignee/owner/importer under oath, based on documents provided by the importer.
Who can sign an export declaration?
Who can sign an export declaration?
The export declaration can be signed either by the exporter, or, at their choice, delegated to a designated customs broker or authorized representative.
What is 'engaging in the business of customs brokerage'?
What is 'engaging in the business of customs brokerage'?
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Can corporations engage in customs brokerage?
Can corporations engage in customs brokerage?
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What is the required capital for a corporation engaged in customs brokerage?
What is the required capital for a corporation engaged in customs brokerage?
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What is the nature of the customs broker profession?
What is the nature of the customs broker profession?
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What Act amended the Customs Brokers Act of 2004?
What Act amended the Customs Brokers Act of 2004?
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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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