BOC releases list of customs bonded warehouse operators

As of September, there were 96 customs bonded warehouse (CBW) operators registered by the Bureau of Customs (BOC).

Some of the operators manage more than one CBW, bringing to 114 the total number of CBWs all over the country.

All except for three CBW operators had their authority to operate renewed by BOC. The other three are new entrants, having been established only this year and issued their authority to operate also this year, data from the agency showed.

The newly formed CBWs are Philippine Iron Construction and Marine Works, Inc. Located in Jasaan, Misamis Oriental; and JG Summit Olefins Corp. and JG Summit PetroChemical Corp in Batangas, both under conglomerate JG Summit.

All CBW operators’ authority to operate is valid for two years.

Dole Philippines, Inc.-Stanfilco Division had the most number of authorized CBWs at four, one in South Cotabato and three in Davao Del Norte.

For a list of the authorized CBW operators, click here.

A CBW is a BOC-accredited warehouse where imported articles (raw materials, semi-finished materials, components, and packaging materials) are stored. These imported materials do not carry duties and taxes if they are intended for finished products that will be re-exported within a prescribed period of time. But if withdrawn for local consumption, these materials are required to pay duties, taxes, and other charges.

Establishing a CBW is subject to the approval of the Customs commissioner, and once established, it is placed under the supervision of the district collector through the respective operating divisions. – Roumina Pablo

Image courtesy of photoraidz at FreeDigitalPhotos.net