Customs brokers: PPA’s new monitoring system won’t cut logistics costs

the implementation of the Trusted Operator Program-Container Registry and Monitoring System .

"What the PPA deliberately omitted is the fact that these container deposits they are trying to eliminate are refundable to importers once the container is returned to the depot. Under the TOP-CRMS, this will not be the case anymore. The PPA will charge importers a service fee amounting to P980 per container on top of an undisclosed amount of insurance coverage in lieu of a container deposit, excluding value-added taxes," she added.

"But this doesn’t happen. A lot of complaints from customs brokers and importers relate to the extreme delay in the return of these container deposits, ranging from six months to more than a year before anything is returned, but with deductions and a lot of times not at all," he said. "In real terms, this will lead to a staggering additional annual import cost estimate of at least P35 billion," she said.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bureau of Customs breaches January collection targetMANILA, Philippines – The Bureau of Customs (BOC) said Friday it had breached its revenue collection target for January with more than P70 billion. The BOC, in a statement, said it had initially
Source: inquirerdotnet - 🏆 3. / 86 Read more »

BOC intercepts P10.36-M worth of ketamine in lifestyle productsThe Bureau of Customs discovered ketamine worth P10.36 million hidden among lifestyle and athletic products during an inspection at the Port of Clark in Pampanga, Customs officials said. | JMangaluzINQ
Source: inquirerdotnet - 🏆 3. / 86 Read more »

U.S. says Sime Darby Plantation products no longer produced with forced laborU.S. customs authorities have determined that palm oil products made by Malaysian firm Sime Darby Plantation were no longer produced with forced labor, according to a notice on the U.S. Federal Register. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

BOC surpasses January collection target with over P70-B revenueMANILA, PHILIPPINES – The Bureau of Customs (BOC) said Friday that it had breached its revenue collection target for January with more than P70 billion. The BOC, in a statement, said it
Source: inquirerdotnet - 🏆 3. / 86 Read more »

BOC seizes P245-M smuggled goods in 2022MANILA, Philippines – A total of P245 million worth of smuggled goods were seized in 2022, the Bureau of Customs (BOC) said Friday. The following are the smuggled items and their worth:
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Bank of England raises borrowing costs to 4%, hints rates near peakThe Bank of England raised interest rates for the 10th time in a row on Thursday but dropped its pledge to keep increasing them “forcefully” if needed and said inflation had probably peaked. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »