Overview of changes under the Customs Modernization and Tariff Act

 Economy
Jul 032016
 

(Last of 5 parts)
In last week’s article, we listed down some of the changes introduced under the new Customs Modernization and Tariff Act (CMTA), particularly on the new rules relating to abandonment, period of storage in a Customs Bonded Warehouse, advance customs rulings, post clearance audit, record keeping requirements and penalties.
In addition to the above, the CMTA also provides the following changes:

Changes under the Customs Modernization and Tariff Act: an overview

 Economy
Jun 122016
 

(Second of 5 parts) In last week’s article, we discussed the evolution of the Tariff and Customs Code of the Philippines (TCCP) and briefly talked about the new rules on goods declaration under the new Customs Modernization and Tariff Act (CMTA). This article will continue to discuss the changes introduced in the CMTA.