Use of security bonds for imports taken up by BOC, PEZA

Officials from the Customs Office (BOC) and the Philippine Economic Zone Authority (PEZA) recently met to resolve issues related to logistics and supply chain management, in particular the use of General Transportation Security Bonds (GTSB) for importing ecozones and movement between regions. goods.

Banga said Acting Commissioner of the Executive Committee for Lebanon Yogi Philemon L. Ruiz, and collector Alex M. In a post on his Facebook page last Monday. He said the meeting aims to build on agency partnership in terms of increased logistical efficiency, supply chain management and “other measures for continuous improvement”.

Banga said he and Ruiz had agreed to resolve “urgent concerns”. It includes the GTSB of the zone’s electronic transportation system, in particular the use of a single GTSB for the import of the economic zone and the movement of goods between regions.

In addition, the officials discussed the Electronic Tracking of Container Cargo (e-TRACC) especially with regard to adopting a selective, risk-based approach to shipments that will be covered by electronic tracking using eSEAL.

e-Tracc remains operational to ensure the safety of container transportation and prevent diversion. The system enables real-time monitoring of the internal movements of containerized goods using an ICT-enabled system such as a GPS-enabled tracking device to secure its transportation to the intended destination.

Officials also touched on the integration of PEZA’s electronic import permit system and automated export documentation system into BOC’s electronic to mobile phone system, or “E2M” system. The integration is expected to increase security and transparency in the processing and control of import and export permits or documents.

Furthermore, PEZA and BOC discussed the disposal of corporate assets pursuant to Republic Act 11534 (the Corporate Recovery and Tax Incentives for Enterprises Act, or Creation Act), with net book value as reference.

The E2M system allows customs officials and merchants to process most customs transactions electronically, although importers are still required to submit hard copies of import documents and attachments to the Entry Processing Unit for verification.

“PEZA is one with BOC and other local supply chain and global value chain participants in strengthening the economic zone’s business ecosystem and our overall competitiveness to make the Philippines a viable investment destination in the region,” Banga said.

The Organization of Islamic Cooperation in the Special Economic Zone stressed that the two agencies have long been “vital partners” in promoting and facilitating trade and investments in the country through the economic zones.

Banga said that since the era of the Export Processing Zone Authority (EPZA) in the 1970s, “BOC has played a key role in facilitating the release of tax- and duty-free import and export shipments to environmental locators including the movement within/between regions of the goods that have enabled our export industries. of prosperity in the country.

He said that the economic zone of the special economic zone also launched the online payment system and started other automation projects such as electronic letters of authorization (LOAs), the integration of various office automation systems, the monitoring of the economic zone, the proposed electronic visa application, building permits, and fleet tracking systems in the economic zone. , among other things.

The PEZA official said that these digital transformation initiatives are aimed at enhancing the customer experience and providing agency services.

“All of these will contribute to increased productivity, reliability and availability, increased performance and reduced operating costs for the benefit of our valued investors in the economic zone and other stakeholders,” Banga said.

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