Global

Details

  • Service: Tax, Global Indirect Tax, International Tax, -
  • Type: Regulatory update
  • Date: 7/8/2014

Philippines - Customs accreditation due 31 July; post-entry audit criteria 

July 8: The Department of Finance extended to 31 July 2014 the deadline for importers and customs brokers to comply with accreditation requirements.

Department Order No. 046-2014 (26 June 2014) provides that the failure to comply with the accreditation rules of the Bureau of Internal Revenue and the Bureau of Customs by the 31 July deadline will result in the automatic cancellation of any existing accreditation.


Read a July 2014 report prepared by the KPMG member firm in the Philippines: InTAX (July 2014)


A second Department Order No. 044-2014 (17 June 2014) provides guidelines and procedures for post-entry audit of import transactions by the authorities. The guidance sets forth the criteria in identifying importers and import entries that are to be the subject of a post-entry audit.


Read a June 2014 report prepared by the KPMG member firm in the Philippines: InTAX (June 2014)




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