With the ongoing improvements of the ASEAN integration, a lot of companies are gradually keeping up to have what it takes to go global. Having the capital to export products or simply find a distributor partner abroad may seem enough and a lot of companies are going out in a drop of the hat to get ahead of the growing competition. But a lot of them are surprised at how inadequate their preparations are, despite the amount of money they have prepared to burn.
On January 13, the Bureau of Customs (BOC) released a list exposing 71 out of thousands of accredited importers and customs brokers who have allegedly engaged in "illicit trade" with BOC employees.
Commissioner Nicanor Faeldon stated that investigators had difficulty finding the information they needed as there were no records of transactions since 2011 and until before President Duterte's administration started.
Of the 71 on the blacklist, only 5 submitted appeals: Harbinger International Trading, Unifine Enterprises, Coco Technologies Corporation, Richo Marketing, and Manhattan Chemical Corporation.
Since then, the BOC has updated its list of companies that are under investigations, have show cause orders, or are prohibited from renewing their accreditation following seizure of their shipments.
Since the implementation of Republic Act (RA) No. 10863, otherwise known as Customs Modernization and Tariff Act (CMTA), on the 30th of May 2016, the Bureau of Customs has been working non-stop to weed out companies that are in constant violation of rules and regulations.
“We have 11,000 accredited importers. Once we’re through cleaning this list, we might be left with just half of that number,” Customs Commissioner Nicanor Faeldon told reporters last Friday, after the announcement of delisting some firms and their brokers that committed some violations. “With their removal from the list of accredited importers and brokers, the delisted firms are now effectively banned from transacting with the BOC.”
It is very important to know about some common violations that may lead the agency to delist your company from accreditation. He are some tips to avoid them:
No man is an island. A quote that everyone is familiar with also applies to nations. In the advent of the twenty-first century, globalization has become the norm. The rapid increase of trade and commerce transcended cultural and national boundaries. With every passing day the world becomes smaller and smaller; with each and everyone becoming closer together.