Philippines Issues New Guidance on Drawback, Duty Refunds and Abatement
The Philippines Bureau of Customs recently issued guidance on the processing, approval and payment of duty drawback, refund and abatement, BOC said in a May 7 press release. The new guidelines loosen restrictions on cash refund payments, and provide that…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
tax credit certificates may not be assigned or transferred. The guidance also codifies “all existing rules and regulations pertaining to Duty Drawback, Refund and Abatement in the BOC, consistent with the provisions of the” Customs Modernization and Tariff Act, enacted by the Philippines in 2016.