Tax notes: Application period for importers, brokers with accreditation

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Monday, June 30, 2014


IN RESPONSE to the numerous requests from affected groups/entities to extend the application period in order to comply with the requirements, the Department of Finance has issued Department Order No. 046-2014 on June 26, 2014, immediately allowing only those importers and customs brokers with valid and existing accreditation to comply with the requirements in filing the application with the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) until July 31, 2014 or the original expiration of the BOC accreditation, whichever is earlier. The first extension period was only until June 30, 2014.

Failure to file the proper application with the BIR and the BOC by the aforementioned date shall result in the automatic cancellation of such accreditation, effective August 1, 2014 or the date of expiration as indicated in the original BOC accreditation, whichever is earlier.

(Source:Punongbayan & Araullo)

Published in the Sun.Star Cebu newspaper on July 01, 2014.

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