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Customs, PCCI partner to enhance trade
The Philippine Star
|July 16, 2024
The government and the country’s largest business group are moving to enhance trade efficiency via a system that will streamline the process of the movements of various goods.
The Bureau of Customs (BOC) and the Philippine Chamber of Commerce and Industry (PCCI) yesterday launched the ATA Carnet System or the Convention on Temporary Admission (Istanbul Convention).
This made the Philippines the 81st country to implement the system that would allow businesses and professionals to temporarily export and import exhibition items, professional equipment and commercial samples without incurring import duties or taxes, provided that the goods are fully re-exported.
The system will also replace the multiple customs documents currently required with a single, comprehensive document.
This story is from the July 16, 2024 edition of The Philippine Star.
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