Customs Bonded Warehouses Quiz

Under CAO 01-2022, when may a CBW operator request extension of storage beyond the maximum one-year period for bonded goods intended for manufacture and export?

• Upon submission of revised SMRMIR

• Only with a resolution from the CBWC

• Upon Commissioner’s approval in consultation with DTI and with DOF approval

• If supported by an affidavit of necessity

Which of the following statements is true regarding the renewed Authority to Operate a CBW?

• It takes effect from the date of new certificate issuance.

• It starts 90 days after the previous expiration.

• It retroacts to the date immediately after the previous authority’s expiration.

• It does not apply retroactively.

Under CAO 01-2022, which is the correct minimum amount for the General Transportation and Surety Bond (GTSB)?

• ₱1,000,000 or the total duties and taxes for one month’s importation

• ₱1,000,000 or 110% of annual estimated imports, whichever is lower

• ₱1,000,000 or the equivalent of 3 months' imports, whichever is higher

• ₱2,000,000 flat

Which of the following is excluded from the exemptions under CAO 01-2022 unless a BOI Certificate of Qualification is issued?

• 60 days from date of entry

• 30 days from expiration of the storage period

• 30 working days from export date

• 45 calendar days from approval of withdrawal

What is the maximum allowable period for a CBW to submit complete liquidation documents after the expiration of storage?

• 60 days from date of entry

• 30 days from expiration of the storage period

• 30 working days from export date

• 45 calendar days from approval of withdrawal

Which violation results in immediate closure of the CBW even for a first offense?

• Unauthorized layout modification

• Late re-exportation

• Unauthorized CBW relocation

• Late stock inventory submission

Which agency is not directly involved in the consultation required for creating or dissolving a type of CBW?

• Department of Finance

• Department of Trade and Industry

• Bureau of Internal Revenue

• NEDA

Which of the following must be furnished with proof of payment of annual supervision charge for CBWs (previously known as Warehouse Supervision Fee)?

• Office of the Commissioner

• CBWC

• AOCG

• CIIS

The performance bond guarantees:

• Exportation of finished goods

• Compliance with CBW laws and regulations

• Transfer of bonded goods

• Payment of liquidation penalties

Who issues the Certificate of Authority to Operate a CBW?

• Deputy Commissioner, AOCG

• Commissioner of Customs

• District Collector

• BOI