Jul 062016
To keep up with the changes of enhanced international trade and automated import-export procedures, Republic Act (R.A.) No. 10863 or the Customs Modernization and Tariff Act (CMTA) was signed into law on May 30, 2016. It took effect on June 16, 2016.
The CMTA was Drafted bearing in mind the provisions of the Revised Kyoto Convention (RKC), to which the Philippines is a signatory. The RKC or the International Convention on the Simplification and Harmonization of Customs Procedures is widely regarded as the blueprint for modern and efficient customs procedures. In the simplest terms, it is the international standard for making customs regulatory procedures as efficient as possible.