Philippines to Join Convention Allowing for Certain Duty Free Imports
The Philippines recently applied to join the Convention on Temporary Admission, which could align it with 72 other countries that benefit from duty exemptions on goods temporarily imported for reexportation within a period of up to one year, the Hong…
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Kong Trade Development Council reported Feb. 4. Under the convention, goods covered by the ATA Carnet (see 2112270016) can be imported for a “specific temporary purpose” without being subject to duties or taxes as long as they are reexported within a “specified” time frame and don’t undergo substantive changes or processing, the report said. The Philippines is set to join the convention April 17.