Export Development Council (EDC)
May 20, 2016
The Bureau of Customs and other stakeholders will soon have an enabling domestic legislation to be compliant with the Revised Kyoto Convention as the Customs Modernization and Tariff Act (CMTA) has been transmitted to the Office of the President last 03 May 2016 for signature into law.?
Once the bill is enrolled at the Office of the President and is not signed into law within thirty (30) days by the President, it lapses into law unless vetoed.?
The CMTA simplifies procedures to lower the cost of doing business, allows automation of procedures, uses international best practices and prevents discretion of Customs officials.?