Compilation Flashcards
Who shall approve the exemption of payment of import duties under Sec. 105 of the TCCP?
Secretary of Finance
What will happen to articles that are imported free of duty then it was sold, bartered hired or used for purposes other than they were intended for without prior payment of duty?
Forfieture
Who may suspend, disallow, or completely withdraw, in whole or in part, any of the conditionally-free importation?
President of the Philippines
Who shall promulgate the exemption from the payment of import duties in Sec. 105 of the TCCP?
Commissioner of customs
It refers to articles imported in violation of IP Code
Infringing Goods
It refers to the articles of prohibited importation and exportation
Contraband articles
It is an indication which identify a good as originating in the territory of a country
Geographical indications
Commodities which neither regulated nor prohibited and maybe affected without prior approval or clearance from any government agency.
Freely Importable commodities
Articles which maybe imported subject to certain restrictions or limitations.
Qualifiedly/Regulated Articles
Commodities which importation of which is not allowed or banned under existing laws or rules and regulations.
Prohibited Commodities
Any technical solution of a problem in any field of human activity which is new, involves an inventive step and is industrially applicable.
Patented Inventions
Any composition of lines or colors or any 3 dimensional form, whether or not associated with lines or colors provided that such composition or form gives a special appearance to and can serve as a pattern for an industrial product on hand.
Industrial Design
Importation is prohibited by law and have been ipso facto forfeited by the fact of importation, more commonly known as contraband article,
Absolutely Prohibited
An act of any person who fraudulently import or or bring into the Philippines, or assist in doing so any article contrary to law, or shall receive, conceal,buy, sell ar in any manner facilitate the transportation, concealment or sale of such article after importation.
Smuggling
This is not tangible goods brought as imported article but the amount of labor for the necessary or urgent repair of the vessel.
Cost of Repair
Denotes the progressive action or series of acts or steps which do not change the nature and identity of the article.
Processing
The making of articles by expending labor upon material to make a finished product, ordinarily taking a different form and usually having different name and purposefrom that of the material and includes any new combination of any old materials contituting a new result or production in the form of vendible articles not being machinery.
Manufacturing
Its purpose is to prove or certify that the articles exported where the article previously imported issued by customs upin its entry in the Philippines
Certificate of Identification
Specimen of an articleor class of goods having no market or commercial value itself and not subject to sale.
Samples
Form of surety or guaranty agreement which contains the promise of a third party, accredited by the BOC to pay for the cost or amount of duties and taxes or other charges in cases there is default in re exporting the goods secured or fails to faithfully perform the conditions.
Bond
Foodstuff for the provision or use of the crew and the passengers on board the vessel or aircraft.
Seastores
Articles specifically foodstuffs which are available for sale to the passengers on board the vessel or aircraft
Saloon Stores
Payment for recordation fee.
2,000 Pesos
Maximum payment for recordation fee for each IP holder
20,000 Pesos
Filipino who have stayed in the foreign country for a period of atleast six months
Returning residents
For returning residents, how much is the value of goods it it exceed P10,000.00?
50% ad valorem rate
They are holders of valid passport duly issued by the Department of Foreign Affairs and certified by the Department of Labor and Employment for overseas employment purpose.
OFWs
For OFWs, how much is the value of goods of it exceed P10,000.00?
Regular rate of duty
The re-exportation of tourist is three months sujcet to extension of how many months?
Three (3) months
Articles are dutiable if recovered in how many years?
Two (2) years
Place where trailers are deposited when not in use.
Customs zone
How many copy of books in which an individual will be allowed to import free of duty?
Two (2) copies
Person authorized to extend the extension of re-exportation of trailers
President
It is a domestic port open to foreign and coastwise trade.
Port of Entry
It is a customs issuance which enforces the provisions of the TCCP and other laws enforced by the BOC and requires approval of the Secretary of Finance
Customs Administrative Order (CAO)
This is the place wherethe District Collector holds office.
Principal Port of Entry
Under the TCCP what is the de minimis amount that the collector is authorized not to collect anymore?
P10.00
What office at the BOC will a Customs Broker apply for accreditation?
Customs Accreditation Secretariat, Legal Service (ICare)
The executive order which reorganized the “Ministry of Finance” and effectively established the structure of the Bureau of Customs
EO 127
The number of Collection Districts?
16
What is the quasi-legislative power of the Bureau of Customs?
It is the power to decide cases in seizure and forfeiture cases
Enumerate the Deputy Commisioners of Customs
IG, AOCG, RCMG, EG, MISTG, IAG
Large scale smuggling is defined as when acts contrary to customs laws involve the importation of goods or contraband with a determinable value of at least _____________.
5.0 Million Pesos
It is a structure built into the sea but not parallel to the coast line and includes any stage, stair landing place, landing stage, floating barge and any bridge or other works connected therewith.
Pier
What is the composition of the PRBCB?
A Chairman and two members
It is a mode of payment where shipping documents are sent directly by the seller to the buyer without passing a bank.
O/A
In the concept of self-assessment customs duties and taxes are computed by the customs broker and/or importer and the amount is indicated in the entry filed. What is a type of entry where the customs duties and taxes are computed b a customs official?
Informal Entry
This is a type of entry where a carrier’s bond is required of from a trucker for purposes of shipment from port of discharge to local port of final destination.
Entry for immediate transportation
When do you think importation is deemed terminated?
Upon payment in full of duties and taxes
What is the first step in customs clearance for shipments covered by consumption entries?
Payment of duties and taxes at Authorized Agent Bank
What is the time frame by which to claim refund by reSon of clerical error?
Within 1 year after final liquidation
It is an article arriving at any port from another
Ort or place noted in the carrier’s manifest and destined for transshipment to another local port or foreign port.
Transit cargo
Refers to products in mass of one commodity not packaged, bundled, bottled, or therwise packed.
Bulk cargo
It is a form of deferred payment where the importer secures shipping documents from a bank upon presentation of a duly accomplished bill of exchange.
D/A
A type of entry where a cargo is transported to a foreign port.
Entry for immediate exportation
When may imported articles covered by one BL be entered in part for consumption and in part warehousing.
Consumption and warehousing entry must be filed at the same time.
Created as control system instituted by the Bureau of Customs where import entries of low riskshipments routed to the green lane undergoes checking.
Yellow lane/ Document check
The only person who can authorize physical examination of SGL Shipments.
Commissioner of Customs
This is the BOC data bank system of previously accepted transaction values
VRIS
It is the office where you file applications for first and last importation
CIIS
If there are 16 containers of a shipment routed to the red lane, how many containers must be examined?
4 (square root system)
An article as found upon examination dioes not tally with the description in the entry and can be classified under different tariff heading
Misdeclared
How many days is an importer given to appeal to the Secretary of Finance for an adverse decision of the Commissioner in the exercise of government’s right of compulsary acquisition?
20 days
In case of a surplus in the proceeds resulting from disposal of articles in the custody of Bureau of Customs, how many days is the Collector of Customs given to retain the surplus?
10 days
How much is the share of the Bureau of Customs on the CSF paid by the importers?
25%
A type of liquidation which is done before release of shipment
Pre-liquidation
A document issued by the Commissioner of Customs to inform an importer that he is subject of compliance audit
Audit Notification Letter
When shall customs brokers be audited?
When importers cannot give complete information about certain shipments
It is the office at the PEAG that is mandated to conduct actual audit examination, inspection, verification or investigation in accordance with the set policies, manuals, and standard operating procedures.
CAO
The amount to be paid by the BOC in case government exercises its right of compulsart acquisition is equal to the declared value plus any duties already paid payment of which shall be made in how many days from issuance of a warrant of the Commissioner for acquisition of such goods.
Within 10 working days
How many years should importation records be kept by importers and customs brokers?
Three years from date of filling of import entry
How much is the reward given to persons instrumental in the discovery and seizure of the smuggled goods?
20% o the fair market value of the smuggled and confiscated goods
