THE Bureau of Customs (BOC) said it has already started its pilot implementation of the Automated Bonds Management System (ABMS) for Warehousing in the Port of Manila.
According to BOC, the ABMS is a bureau-wide system for processing bond transactions which enables them to effectively monitor the status of bonds and expedite the settlement or collection of due and demandable bonds. An automated procedure under the Electronic to Mobile (E2M) Customs System, the ABMS also monitors and ages bond balances and flags those that have already expired.
Under Customs Memorandum Order (CMO) No. 17-2021 signed by Customs Commissioner Rey Leonardo B. Guerrero, the Bureau of Customs said ABMS shall now cover warehousing bond accounts or General Warehousing Bonds (GWB).
The CMO applies to all Warehousing Bond Accounts opened under the E2M Customs System in all collection districts, including sub-ports and other offices.
The bureau added the GWB shall be exclusively used to secure the duties and taxes reflected in the Warehousing Single Administrative Document as they discontinue their practice of charging against the GWB the amount of duties and taxes on shipments for transit to Customs Bonded Warehouses (CBW). Thus, there is a need for the CBW operator to open a bond account for the transit of goods from the Port of Discharge to the CBW.
Customs Bonded Warehouses refer to warehouse facilities licensed by the bureau to import, receive, and store without payment of duties and taxes and under bond, goods, raw materials, accessories and packing materials either for manufacture into finished products for export or storage for the account of authorized end users or clients.