A GREAT deal has been said about the new accreditation process imposed under Department of Finance Department Order (DO) No. 012-2014, dated Feb. 6. It would seem that there is a growing awareness among importers of the two-phase process for accreditation, the documents required to apply for a Bureau of Internal Revenue Importer Clearance Certificate (BIR-ICC) and a Bureau of Customs Importer Accreditation (BoC-IA), as well as the deadline to comply with the new accreditation rules. Most importantly, stakeholders now realize that their respective importer accreditation shall be deemed automatically canceled for failure to comply with the new accreditation rules on or before the scheduled deadlines, which may seriously disrupt business operations and cause large scale revenue loss.
Jun 082014