Custom's Law Quiz 5 - 10 (30 Qs)

This term refers to the reduction, or diminution, in whole or in part, of duties and taxes, where payment has not been made: 

• Abatement

• Refund

• Drawback

• Smuggling

This term refers to the act of bringing imported goods directly or through transit into a free zone:

• Entry

• Importation

• Admission

• Lodgement

________ refers to the process of determining the amount of duties and taxes and other charges due on imported and exported goods:

• Entry

• lodgement

• Classification

• Assessment

________ refers to any person who deals directly with the Bureau of Customs, for and on behalf of another person, relating to importation, exportation, movement, or storage of goods

• Third Party

• Importer

• Declarant

• Authorized Economic Operator

There is _______ when the goods, which, being in free circulation, leave the Philippine territory and are intended to remain permanently outside it:

• Actual Exportation

• Conditional Importation

• Transshipment

• Reexportation

Which among the following is true regarding an airway bill?

• It indicates who has the right to claim delivery of the goods when they arrive at the port of destination

• It is a contract of carriage

• It indicates limits of liability and claims procedures

• All of the above

Who among the following may be considered an authorized economic operator under the CMTA

• Customs Broker

• Importer / Exporter

• Freight Forwarder

• All of the Above

Flexible clause refers to the power of the:

• President upon recommendation of the Tariff Commission

• President upon recommendation of the NEDA

• Commissioner, subject to the approval of finance Secretary

• Commissioner, subject to the approval of the President

This term refers to the act, documentation, and process of bringing goods out of Philippine Territory:

• Exportation

• Outright Exportation

• Actual Exportation

• None of the above

Which among the following is / are true regarding conditional importations?

• They are conditionally relieved from payment of duties and taxes

• They are subject to the conditions to be set by the Collector

• They must meet certain criteria to be set by regulatory agencies.

• All of the above