The Bureau of Customs (BoC) and the Philippine Chamber of Commerce and Industry (PCCI) expect livelier trade and more investments into the country following their launch of the ATA Carnet System on Monday.

The ATA Carnet reduces documents for temporary import and export of tax-free products to be used in trade fairs and business travels by company executives into a single document or merchandise passport.

The tax-free goods under the ATA Carnet System includes commercial samples, professional equipment, and items for display at international trade fairs which are intended for promotional activities or work duties, not for sale.

“We are creating a more stable and predictable environment for businesses.”

“The BoC reiterates a smoother path for encouraging trade and investments,” BoC Commissioner Bienvenido Rubio said.

Process simplified

BoC Assistant Commissioner Vincent Maronilla said the entire process has been simplified as the customs agents will now only coordinate with the PCCI for taxes if the businesses do not bring back their products to their home country.

“We’ll just fast-track the entire process. Before you have to coordinate with the Department of Finance and then we will endorse the transaction,” he added.

With ATA Carnet, Maronilla said the BoC on its part can process entry and exit goods in one day, helping shorten the usual two-week period of the entire process.

The BoC said the system will benefit fair exhibitors, traveling company executives, technicians, and creative workers such as filmmakers, photographers, surgeons, architects, journalists and entertainers.

The Philippines now joins 80 countries that use the ATA Carnet System and can accept its goods easily for the promotion of Filipino talent and culture, the BoC said.

International Chamber of Commerce chairman George Barcelon said he sees more bookings for meetings, incentives, conferences and exhibitions under the tourism industry due to the smoother trade fair process.