CBW

Front

Penalty for re-exporting goods beyond storage limit (March 24, 2023 to April 22, 2023) with computed duties and taxes of P 500,000.00.

Back

P 20,000.00

Front

When the business of the port requires such facilities, the District Collector, subject to the approval of the Commissioner of Customs shall designate and establish warehouses for use as public and private bonded warehouses, yards, or for other special purposes. All such warehouses and premises shall be subject to the supervision of the Commissioner of Customs, who shall impose such conditions as may be deemed necessary for the protection of the revenue and of the goods stored therein.

Back

The first statement is correct but the second one is incorrect.

Front

Which customs bonded warehouse has a license issued by the BOC alone or jointly with GTIDO?

Back

Customs Common Bonded Warehouse

Front

Conditions for manufacturing goods in a bonded warehouse for exportation, except one.

Back

The District Collector may authorize the establishment of the customs bonded warehouse, and accept a bond for its operation and maintenance if the applicant was compliant with the prescribed requirements.

Front

The Commissioner of Customs shall act on the application as endorsed by the Chairman of BWC within _______.

Back

Ten (20) working days from the receipt of the recommendation

Front

Application for the establishment of Customs Bonded Warehouse (CBW) and Customs Facilities and Warehouses (CFW) shall be filed with the ____ describing the premises, location, capacity and purpose thereof.

Back

District Collector where the Customs Bonded Warehouse and Customs Facilities and Warehouses is located

Front

Under Section 804, who may authorize the establishment of customs warehouses, and accept the required security for its operation and maintenance?

Back

District Collector with the approval of the Commissioner of Customs

Front

For goods declared in the entry for warehousing in Customs Bonded Warehouses, what security is required by the District Collector?

Back

equivalent to the computed duties, taxes and other charges

Front

Pursuant to Section 810, imported goods shall be released from Customs Facilities and Warehouses (CFWs) when the duties and taxes have been paid or secured to be paid, together with any related document required by any provision of the Customs Modernization and Tariff Act and other regulations. All goods entered into the CFWs shall be subject to the filing of goods declaration within the period specified under Section 407 of the aforementioned Act.

Back

The first statement is incorrect but the second one is correct.

Front

What is the storage period in a customs bonded warehouse for goods not perishable in nature?

Back

twelve (12) months from the date of arrival at the bonded warehouse