7 months Highlights of the new BoC audit rules Manilatimes |Biz
Last of two partsIn last week’s article, we discussed briefly the coverage of a post clearance audit (PCA) under customs administrative order (CAO) 01-2019 and the potential issues that may be raised by the post clearance audit group (PCAG) of the Bureau of Customs (BoC). In this article, we shall discuss other salient features under the CAO and the penalties that may be imposable during a PCA. Record-keeping requirements As a control measure, all importers, beneficial or true owners of imported goods, their customs brokers and agents as well as registered locators in the special economic zones and free ports ... more