45 Questions
According to the Special Economic Zone Act of 1995, what is the declared policy of the government regarding private enterprise?
To recognize the indispensable role of the private sector
What is the purpose of establishing special economic zones in suitable and strategic locations in the country?
To improve the level and quality of living conditions for people, especially those in rural areas
What is the objective of the government in promoting the preferential use of Filipino labor, domestic materials, and locally produced goods?
To make local products more competitive
What is the role of the government in the establishment of special economic zones?
To actively encourage, promote, induce, and accelerate a sound and balanced industrial, economic, and social development of the country
What is the purpose of providing incentives to needed investments?
To attract legitimate and productive foreign investments
What is the objective of the government in establishing special economic zones in suitable and strategic locations in the country?
To provide jobs to the people especially those in the rural areas
What is the declared policy of the government regarding the use of Filipino labor, domestic materials, and locally produced goods?
To promote their use
What is the purpose of adopting measures that help make Filipino labor, domestic materials, and locally produced goods competitive?
To make them more competitive
What is the objective of the government in actively encouraging, promoting, inducing, and accelerating a sound and balanced industrial, economic, and social development of the country?
To provide jobs to the people especially those in the rural areas
What is the purpose of the Special Economic Zone Act of 1995?
To translate into practical realities the State policies and mandates in the 1987 Constitution
Which of the following is not a type of economic zone defined by the Special Economic Zone Act of 1995?
Tourist-only zone
What is the main purpose of establishing special economic zones in the Philippines?
To attract foreign investors and generate employment opportunities
What is the definition of an industrial estate according to the Special Economic Zone Act of 1995?
A tract of land subdivided and developed for industrial use
What is the purpose of creating a separate customs territory within special economic zones according to the Special Economic Zone Act of 1995?
To decrease import duties on goods entering the zone
What is the definition of an export processing zone according to the Special Economic Zone Act of 1995?
A specialized industrial estate located within customs territory
What is the main objective of the Special Economic Zone Act of 1995?
To create a legal framework and mechanisms for economic zones
What is the definition of a free trade zone according to the Special Economic Zone Act of 1995?
An isolated policed area adjacent to a port of entry
What is the purpose of promoting financial and industrial cooperation between the Philippines and industrialized countries according to the Special Economic Zone Act of 1995?
To modernize the country's industrial sector
What is the definition of special economic zones according to the Special Economic Zone Act of 1995?
Areas with the potential to be developed into various centers
What is the purpose of stimulating the repatriation of Filipino capital according to the Special Economic Zone Act of 1995?
To provide attractive climate and incentives for business activity
What is the purpose of the Electronic Zone Transfer Document (eZTD)?
To replace all PEZA permits related to the transfer of goods
What is the purpose of the General Transportation Surety Bond (GTSB)?
To guarantee the direct and faithful delivery of goods
What is the equivalent of the General Transportation Surety Bond (GTSB)?
Estimated duties and taxes on all goods to be transferred by the originating PEZA-registered enterprise to all its intended recipient PEZA-registered enterprises for a period of seven (7) days
What is required for PEZA-registered enterprises transferring goods within the purview of the Order?
To post a General Transportation Surety Bond (GTSB)
What is the period covered by the face value of the General Transportation Surety Bond (GTSB)?
Seven (7) days
What is the purpose of the PEZA-registered enterprise's enrollment with a PEZA-accredited VASP?
To enroll in the eZTS
What is the responsibility of the PEZA-registered enterprise in relation to the applications for e-LOA and e-ZDTS?
To be accountable for all applications electronically filed in its name
What is required for the first-time transfer of goods by a PEZA-registered enterprise?
An affidavit indicating the total estimated value of all goods to be transferred for a three (3)-month period
What is the validity period of the GTSB according to the text?
One year
What is the consequence of an increase in the value of goods actually transferred after a six-month period according to the text?
Increase the face value of the original GTSB
What is the purpose of furnishing PEZA a copy of the GTSB duly approved by the BOC according to the text?
To authenticate the copy submitted
What is the role of the BOC in the process of increasing the face value of the original GTSB according to the text?
To check the authenticity of the Bond and Official Receipt
What is the required action if the original Bond and Official Receipt are lost according to the text?
Submit a notarized affidavit of loss
What is the consequence of submitting an unauthenticated copy of the GTSB to PEZA according to the text?
Reject the application for authentication
Who is responsible for increasing the face value of the original GTSB according to the text?
The importer
What is the definition of 'transfer of goods' according to this Order?
The clearance and release of goods from a PEZA-registered enterprise to another location within the same economic zone
What is the consequence of misrepresenting facts in the GTSB according to the text?
Liability of the originating-PEZA enterprise
What is the required action if the GTSB is lost according to the text?
Submit a notarized affidavit of loss
What does 'intra-zone transfer' mean according to this Order?
The transfer of goods from a PEZA-registered enterprise to another PEZA-registered enterprise within the same economic zone
What does 'rer-zone transfer' mean according to this Order?
The transfer of goods between two different economic zones
What does the eZTS stand for?
Electronic Zone Transfer System
Who will operate the eZTS according to this Order?
PEZA-accredited VASPs
What is the Electronic Letter of Authority (eLOA) according to this Order?
A document that allows the transfer of goods from a PEZA-registered enterprise to another PEZA-registered enterprise
What is the scope of this Order?
This Order applies to all transfers of goods by a PEZA-registered enterprise to another PEZA-registered enterprise or to another facility of the same enterprise located in another PEZA economic zone
Who is required to secure the Electronic Letter of Authority (eLOA) according to this Order?
The originating PEZA-registered enterprise transferring the goods
Test your knowledge on the "Special Economic Zone Act of 1995", which aims to establish special economic zones and promote economic growth in the Philippines. This quiz covers topics such as the purposes and objectives of the act, the establishment and nature of special economic zones, and coordination with other similar schemes.
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