BOC monitors 1st importation of PBR as an AFAB Registered Entity
As part of the Bureau’s commitment to enhance trade facilitation, the Bureau of Customs – Port of Limay, headed by Acting District Collector William B. Balayo, inspected the discharge of Indonesian Steam Coal destined for Petron Bataan Refinery (PBR) at the SMC private port located at Limay, Bataan on April 27, 2021.
The importation is considered as the first importation of the Petron Bataan Refinery as an Authority of the Freeport Area of Bataan (AFAB)-Registered Entity. The inspection result showed that the PBR is fully compliant with all requirements and existing regulations, including the provision of easy access to facilitate inspection and monitoring.
Last April 16, 2021, the BOC Port of Limay and the Bureau of Internal Revenue (BIR) witnessed the inventory-taking of crude oil and petroleum products to determine the inventory levels prior to the transition to an AFAB Registered Enterprise. Starting April 17, the PBR has started accounting for its importations as an AFAB Registered Enterprise.
One of the privileges of an AFAB Registered Entity is the tax and duty free importation of goods within the Freeport Area under R.A. 9728 known as the “Freeport Area of Bataan (FAB) Act of 2009” as amended by R.A. 11453 known as “An Act Further Strengthening the Powers and Functions of the Authority of the Freeport Area of Bataan “
The Bureau of Customs and the Port of Limay, through this monitoring effort, remains committed to ensure that registered entities with privileges of tax- and duty-free importations are legally inspected and monitored to facilitate trade and protect government revenues.