Bill Type
Long Title
FULL TITLE : AN ACT ESTABLISHING GUIDELINES FOR THE APPLICATION OF LOCAL CHARGES (ORIGIN AND DESTINATION FEES) IMPOSED BY INTERNATIONAL SHIPPING LINES TO COMPLY WITH EXISTING LAWS AND INTERNATIONAL STANDARDS (INCO TERMS)
Congress Author
Date filed
June 28, 2018
Scope

Legislative History

House Bill/Resolution NO. HB07892
FULL TITLE : AN ACT ESTABLISHING GUIDELINES FOR THE APPLICATION OF LOCAL CHARGES (ORIGIN AND DESTINATION FEES) IMPOSED BY INTERNATIONAL SHIPPING LINES TO COMPLY WITH EXISTING LAWS AND INTERNATIONAL STANDARDS (INCO TERMS)
ABSTRACT : Seeks to a.) enforce applicable Philippine Law; b.) collect the correct rate of duties and taxes on importations by transparently including the cost of transportation on the dutiable value of the importations; c.) collect the taxes due on revenue generated by international shipping lines for activities and corresponding income generated within the Philippines in accordance with the pertinent provisions of the Internal Revenue Code; d.) make sure that business is conducted based on internationally recognized standards agreed by the contracting trade partners; and, e.) protect the public from arbitrary, compulsive and indiscriminate charges incorrectly collected from the parties not subject of any contract under duress.
PRINCIPAL AUTHOR/S : YAP, ARTHUR C.
DATE FILED : 2018-06-28
SIGNIFICANCE: NATIONAL
ACTIONS TAKEN BY THE COMMITTEE ON RULES
REFERRAL TO THE COMMITTEE ON TRANSPORTATION ON 2018-07-30

Abstract

Seeks to a.) enforce applicable Philippine Law; b.) collect the correct rate of duties and taxes on importations by transparently including the cost of transportation on the dutiable value of the importations; c.) collect the taxes due on revenue generated by international shipping lines for activities and corresponding income generated within the Philippines in accordance with the pertinent provisions of the Internal Revenue Code; d.) make sure that business is conducted based on internationally recognized standards agreed by the contracting trade partners; and, e.) protect the public from arbitrary, compulsive and indiscriminate charges incorrectly collected from the parties not subject of any contract under duress

Disclaimer

Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.