The growth of the import industry is at all-time high over the past years. This growth also motivated customs administrations to enforce stricter regulations to facilitate a secure, fair, and organized importation process.
With the increasing threat on the economy caused by smuggling and tax fraud, the customs administration requires all importers to secure accreditation. Being an accredited importer is not only a matter of due diligence, it also makes the operations the company more efficient by ensuring that the import documents are processed much faster, and the imported goods are released in a timely manner.
In the Philippines, the Bureau of Customs (BOC) is the agency responsible for providing accreditation for importers and implements sets of requirements which prospective importers have to fully satisfy in order for the agency to recognize the importer’s operations as legal.
Check out the infographic below from Excelsior Worldwide Freight Logistics to learn more about the advantages of being an accredited importer.
Infographic Source: https://excelsior.ph/2017/09/29/advantages-of-being-an-accredited-importer/