The Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR) have agreed to enhance electronic exchange of information that will translate to cost savings for traders.
Customs Commissioner Alberto Lina and BIR Commissioner Kim Jacinto-Henares signed the memorandum of agreement in support of the Electronic Commerce Act of 2000.
Under the agreement dated August 6, BIR will provide an online facility where BOC can validate tax identification numbers and other relevant information on importers and exporters captured in the BIR system.
For its part, the BOC will provide electronic copies of import and export entries (Single Administrative Document or SAD) instead of hard copies of the pre-printed and pre-numbered Import Entry and Internal Revenue Declaration (IEIRD or BC Form 236) and export declarations to the BIR.
In a statement, BOC said the phase-out of the IEIRD form will mean cost savings to importers who currently have to submit seven copies of the IEIRD to various entities. Each complete set of IEIRD costs P265.
Under the agreement, BIR has designated its Data Warehousing and Systems Operations Division to receive all electronic copies of import and export entries transmitted online by BOC.
Through the Management Information System and Technology Group, BOC can also submit online its weekly, monthly and annual consolidated import and export reports to the BIR as well as other relevant agencies.
Earlier, BOC signed a memorandum with the Tariff Commission allowing electronic information exchange between the two agencies. The agreement enables BOC to furnish the Commission with electronic copies of customs import and export entries instead of hard copies of IEIRD forms.
READ: Tariff Commission to get online copies of BOC entries
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