IN 1995, the Philippines formally joined the World Trade Organization (WTO). After years of nego-tiations and debate, about a hundred forty countries finally agreed…
August 14, 2006
4 minute read
TCC Cancellation and Revalidation Starting Aug 1
THE Department of Finance (DOF) has issued a new order requiring the special revalidation of all outstanding Tax Credit Certificates (TCCs) from August 1…
July 31, 2006
4 minute read
WTO Review of Free Trade Agreements
The continuing failure of WTO members to enter into major agreements starting three years ago has made many countries participate in numerous regional and…
July 17, 2006
3 minute read
RP to Adopt the Revised Kyoto Convention
THERE are at present two proposed legislation pending in Congress which, if not studied fully, may impact nega-tively on how companies conduct their business…
July 3, 2006
3 minute read
CMO 20-2006: Rules for Alcohol and Tobacco products
IN a previous column (January 30, 2006, Port-Calls), we wrote about the new law passed last year governing alcohol and to-bacco products. The Bureau…
June 21, 2006
4 minute read
CVCRRC – Valuation and Classification Disputes
In a previous article (PortCalls, April 10, 2006), we wrote about CMO 7-2007 which provides for new rules governing assessment disputes (valuation and classification…
June 5, 2006
4 minute read
Duties on Air Freight Charges
IMPORTERS, customs brokers and forwarders normally encounter problems clearing air shipments with customs due to discrepancies in the computation of duties and taxes arising…
May 22, 2006
3 minute read
Integrated Logistics Under RA 9280
CASE STUDY 1. A local manufacturer, Santa Barbara Company (SBC), imports various articles on a Delivered Duty Paid (DDU) terms of trade. The foreign…
May 8, 2006
4 minute read
RMC 9-2006: BIR Rules for Customs Brokers
TO those in the importing and logistics industry, it is common knowledge that un-receipted expenses are incurred every time shipments are processed and cleared…
April 24, 2006
4 minute read
New Rules for Customs Assessment Disputes
THE Bureau of Customs (BoC) recently issued new rules gover-ning assessment disputes (valuation and classification issues) brought before the Valuation and Classification Review Committee…
April 10, 2006
4 minute read
Strategic Issues in International Logistics
IN the last two years, we have seen increasing consolidation, through mergers or acquisitions, in the global logistics and forwarding industry. For many in…
February 27, 2006
4 minute read
Tariff Reduction for ASEAN-China Free Trade Area
LAST January 12, 2006, the Philippine government issued EO No. 487, which effectively reduced the tariff rates of certain imported articles from China and…
February 13, 2006
3 minute read
New Rules for Imported Alcohol and Tobacco Products
A year ago, a new law governing alcohol and tobacco products was passed by the Philippine Congress. Republic Act No. 9334, en-titled “An Act…
January 30, 2006
4 minute read
Voluntary Disclosure/Payment of Additional Customs Duties
AS previously written, more than 100 companies to date have been issued audit notices under the customs post entry audit (PEA) system. Some of…
January 16, 2006
4 minute read
Foreign Currency Risks in International Trade
FOR importers and exporters, the foreign currency risk involved in trading goods across borders is quite difficult to understand and manage. The risk of…
May 9, 2005
4 minute read
Latest Developments in ASEAN
AS a result of the failure of WTO members countries to enter into major agreements during the ministerial meeting in Cancun, Mexico two years…
April 25, 2005
4 minute read
Misconceptions about RA 9280 (2)
THERE seems to be only two positions on RA 9280 – those for it and those against. Obviously, most licensed customs brokers support the…
April 11, 2005
4 minute read
High Expectations for the New Customs Commissioner
THE recent appointment of a new economic team by the President has definitely provided a boost to the economy. Together with this, the appointment…
February 28, 2005
4 minute read
The Global Counterfeit Business
IN the Philippines, the sale and distribution of pirated and counterfeit goods has long been a concern not only for authorities but also for…
February 14, 2005
4 minute read
Wanted: Customs Compliance Managers
THE adoption of the WTO Agreement on Customs Valuation (ACV) in January 2000 and the Post Entry Audit (PEA) system in June 2001 has…
