Home » Archive for July, 2007

Archive for July, 2007

CMO 18-2007: Practical Issues

CMO 18-2007: Practical Issues

Jul. 30 | LAST May, we wrote in our column about the planned Voluntary Disclosure Program (VDP) of the Bureau of Customs (BOC). The Department of Finance has now approved the new rules on the VDP as provided in CAO 5-2007. Last July 6, 2007, the BOC issued the...

Customs Demand Letters – Part II

Customs Demand Letters – Part II

Jul. 16 | OF late, the Office of the Customs Commissioner (OCOM) has been issuing numerous letters demanding importers to settle deficiencies in taxes and duties for past importations made in the last three years, with a warning that failure to settle the alleged...

First VASP accreditation still awaited

First VASP accreditation still awaited

Jul. 2 | THE accreditation of the first Bureau of Customs (BOC) value-added service provider (VASP) continues to hang with the service level undertaking (SLU) still unsigned as of Friday. The SLU binds the VASP to guarantee the services it offers to BOC clients...

PCCI seeks restudy of North Harbor privatization

PCCI seeks restudy of North Harbor privatization

Jul. 2 | A delay in the North Harbor privatization once again looms after the Philippine Chamber of Commerce and Industry (PCCI) declared it wants to rethink the port’s bidding process to ensure public interest is protected. Two months ago, PCCI and the...

AISL airs views on transport cost

AISL airs views on transport cost

Jul. 2 | (The following was issued by the Association of International Shipping Lines following the release of a World Bank study on transport costs in Asia.) THE Association of International Shipping Lines (AISL), consisting of major foreign lines plying the...

ICTSI subsidiary bags Subic container terminal

ICTSI subsidiary bags Subic container terminal

Jul. 2 | THE Subic Bay Metropolitan Authority (SBMA) will award the contract to manage and operate the Freeport’s new container terminal to Subic Bay International Terminal Corp (SBITC), a unit of International Container Terminal Services, Inc. (ICTSI)....

BOC recommends 80% cut in container security fee

BOC recommends 80% cut in container security fee

Jul. 2 | CUSTOMS Commissioner Napoleon Morales has recommended an 80% reduction in the container security fee (CSF) as proposed by the technical working group (TWG) which restudied the fee. In a letter to Finance Secretary Margarito Teves, Morales said the TWG...

CMO 12-2007: New Basis for Customs Assessment

CMO 12-2007: New Basis for Customs Assessment

Jul. 2 | THE Bureau of Customs (BOC) recently issued Customs Memorandum Order (CMO) 12-2007 which provides new rules redefining the dutiable value of an imported article as the amount reflected in the Commercial Invoice or in the Import Entry Declaration for shipments...
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