Customs Memorandum Order (CMO) No. 16-2020 implements the Enhanced Value Reference Information System (e-VRIS) to serve as a risk management tool to ascertain the veracity of any statement, document, or declaration presented for customs valuation purposes. The e-VRIS which shall operate in the electronic to mobile (E2M) system will replace the existing National Value Verification System (NVVS) established in 2019 to protect government revenues against trade misinvoicing and misclassification.
As part of the Improvement of Risk Management System under the Bureau of Custom’s (BOC) 2020 10-Point Priority Program, Customs Risk Management Steering Committee (CRMSC) launches new color lane in the Universal Risk Management System (URMS).
The URMS is aimed to enhance the risk management capabilities of the Bureau. In line with this, the system introduces Orange Lane as a new Selectivity color with the previous Green, Yellow, and Red lanes.
BOC Partners with PayMaya for Enhanced Payment System
To pay fees and charges through PayMaya, the client may indicate his preference for online payment in the Customer Portal. The client would then receive the invoice through their email address. The invoice will show the fees or charges due and the corresponding amount. The client shall click on “Pay”. Once all the relevant Cardholder Information is provided, the client shall click on “Complete Order”. The client may opt to save the card for future use before confirming payment. Once confirmed, the payment will be processed for 2-3 seconds. After payment processing, the client shall receive the transaction status. Clients can choose to give their email address or SMS number to receive the transaction receipt.
BOC Reiterates Guidelines on Advance Ruling System for Valuation and Origin
The Bureau of Customs reiterated the guidelines on Advance Ruling System to encourage stakeholders to avail of the system as it provides specific and concrete rules offering uniformity in the application of customs rules and regulations.
Advance Ruling is an official and written binding ruling issued by the Commissioner of the Customs (BOC) which provides the requesting person with an assessment of origin or treatment to be applied on a certain element of customs value before an import or export transaction for a specific period.
Anyone can send balikbayan boxes to the Philippines, even Corporations, Partnerships, and Sole Proprietors, but only Qualified Filipinos While Abroad can avail of the duty- and tax-free privilege under the Section 800 (g) of the CMTA.
Under the Republic Act No. 10863 or the Customs Modernization and Tariff Act 2016 (CMTA), sending of balikbayan boxes by Qualified Filipinos While Abroad (QFWA) to their families and relatives is exempt from payment of duties and taxes up to three (3) times and the total FOB/FCA value of which, is not exceeding Php 150,000 in a calendar year. Any amount that exceeds the allowable value is subject to payment of duties and taxes.