- The Bureau of Customs (BOC) has updated procedures for zero VAT on imports by export-oriented enterprises (EOEs) to support export growth and reduce tax burdens.
- EOEs must have at least 70% of their previous year’s production dedicated to export sales and obtain certification from the Department of Trade and Industry’s Export Marketing Bureau (DTI-EMB).
- Certification is electronically verified by BOC, and customs officers check both the certification and the alignment of imported goods with export activities.
- A new procedural code (061) has been integrated into BOC’s system to streamline processing and tracking of VAT-exempt imports.
- Post-clearance audits ensure compliance, with penalties for violations, and the process now requires only DTI-EMB certification, reducing bureaucratic steps and improving logistics efficiency.
Source: blog.gettransport.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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