Toyota PH receives BOC AEO Level 1 accreditation

TMP BOC AEO Certification

Toyota Motor Philippines (TMP) announced that it has received the Level 1 accreditation under the Bureau of Customs’ (BOC) Authorized Economic Operation (AEO) Program, making it the first company in the country to receive the aforementioned approval.

KEY TAKEAWAYS

  • What did Toyota Motor Philippines receive from the Bureau of Customs?

    It received the Authorized Economic Operation (AEO) Program Level 1 Accreditation.
  • What are the advantages of receiving the accreditation?

    The company will be exempted from the annual renewal of customs accreditation as well as self-assessment of duty and tax liabilities, among other perks stated in the Customs Memorandum Order No. 09-2020.
  • TMP shared that the accreditation process “involves rigorous assessment and validation in accordance with the World Customs Organization (WCO) SAFE Framework of Standards to Secure and Facilitate Global Trade.”

    In a letter dated February 7, 2022, the accreditation from the customers bureau provides the top local automotive distributor the AEO Program benefits such as exemption from the annual renewal of customs accreditation as well as self-assessment of duty and tax liabilities among other perks cited in the Customs Memorandum Order No. 09-2020.

    TMP main building

    Aside from that, the bureau will be accepting TMP’s goods declaration based on self-assessment, subject to consistency with TMP’s trade documents. The TMP will be given a dedicated help desk (as well as succeeding AEO members), on customs-related concerns.

    During the BOC’s 120th Founding Anniversary celebration, Department of Finance Secretary Carlos Dominguez and BOC Commissioner Rey Leonardo Guerrero presented TMP its AEO certification.

    “ASEAN is a heavily trade-driven region, ranking 6th among the major regional trade blocs in the world in 2020. Trade facilitation initiatives like the AEO Program complement the region’s efforts towards speedy recovery and are particularly beneficial to highly regionalized industries like automotive,” TMP noted in the statement.  

    “As the industry leader, TMP keeps up with global and regional developments to provide the best products and services to its customers. Faster and safer trade ultimately benefit customers by reducing delivery lead-time. TMP’s next goal is to achieve higher AEO levels. This supports the company’s drive for excellence, an achievement recognized with its recent conferment of the 2019 Philippine Quality Award for Performance Excellence,” it added.

    Photos from Toyota Motor Philippines

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