Toyota PH is second highest importer

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Toyota Motor Philippines Corp. (TMP) remitted a total of P44 billion in duties and taxes to the Bureau of Customs (BOC) in 2023, making it the country’ second top importer for the year.

In a statement, TMP said it received recognition for this at the 122nd founding anniversary celebration of the BOC in Manila recently.

TMP also said it received certification as Authorized Economic Operator (AEO) Level 2.

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The BOC’s AEO program is a customs-to-business partnership that aims to promote legitimate trade facilitation and provide seamless movement of goods through secure international supply chains. An accreditation certifies that TMP underwent a rigorous process of assessment and validation as well as met the general and security criteria of the BOC in accordance with the World Customs Organization Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework).

The AEO accreditation provides organizations with the program benefits of streamlined customs procedures and interventions.

Under AEO Level 2, TMP will be granted the advantages of simplified customs processes and priority through a dedicated processing lane, advance clearance, periodic lodgment, one-time exemption certificate, and expedited customs clearance for exports.

These are on top of the Level 1 benefits TMP has been receiving, including exemption from renewal of BOC accreditation, self-assessment of duty and tax liability, acceptance of goods declaration consistent with TMP’s trade documents, and access to a dedicated help desk.

With operations automotive manufacturing, sales, and distribution businesses in the country, TMP works with several major BOC ports including the Port of Batangas, Manila International Container Port and the Ninoy Aquino International Airport.

Located close to its Batangas Vehicle Center, the POB serves as TMP’s gateway in importing automotive products such as Toyota and Lexus vehicle models, multi-sourced parts for production, and service parts from the Asia Pacific region.

 

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