Philippines Joins ATA Carnet for Duty-Free Temporary Imports, Exports
The Philippines recently joined the international ATA Carnet system, allowing tax and duty-free temporary exports and imports of nonperishable goods for up to one year, the Hong Kong Trade Development Council reported Dec. 8. The duty exemptions apply to products…
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showcased at trade fairs or exhibitions, professional equipment and "personal goods and effects for sports purposes,” HKTDC said. The ATA Carnet, recognized by 87 countries and territories, will also allow temporary exporters to use one document for all customs transactions, the report said. If the temporarily admitted goods aren’t removed from a country within the allotted time, the parties must pay the full taxes and duties.