Assessment and Release

No duties and taxes shall be collected on goods with –

• FOB or FCA value of ten thousand pesos (P10,000.00)

• FOB or FCA value below ten thousand pesos (P10,000.00)

• FOB or FCA value not exceeding ten thousand pesos (P10,000.00)

• All of the choices

The de minimis value shall be adjusted to its present value using the –

• Gross Domestic Product

• domestic market value

• Consumer Price Index

• transaction value method

The de minimis value herein stated shall be adjusted to its present value as published by the –

• Philippine Statistics Authority

• National Statistics Office

• Department of Finance

• Bureau of Customs

Duty shall not be assessed in any case upon an amount less than the —

• customs value

• entered value

• dutiable value

• declared value

Duty shall not be assessed in any case upon an amount less than what is required under the law unless by direction of the –

• Customs appraiser

• District Collector

• Commissioner of Customs

• Secretary of Finance

Assessment shall be deemed final ____receipt of the notice of assessment by the importer or consignee.

• fifteen (15) days after

• thirty (30) days after

• fifteen (15) days from

• thirty (30) days from

Assessment shall be deemed ____if the duties and taxes initially assessed are disputed by the importer.

• completed

• tentative

• final

• finished

In the absence of fraud and when the goods have been finally assessed and released, the assessment shall be conclusive upon all parties _____, or upon completion of the post clearance audit.

• thirty (30) days after the date of final payment of duties and taxes

• one (1) year from the date of tentative liquidation and taxes

• three (3) years from the date of final payment of duties and taxes

• five (5) years after the date of final liquidation and taxes

Goods declared shall be released when —

• duties and taxes and other lawful charges have been paid

• duties and taxes and other lawful charges have been secured

• all the pertinent laws, rules and regulation have been complied with

• all of these

When the Bureau of Customs requires laboratory analysis of samples, detailed technical documents or expert advice, it may release the goods before the results of such examination are known after posting of sufficient security by the –

• importer

• declarant

• consignee

• customs broker