{"id":18826,"date":"2024-05-20T03:00:55","date_gmt":"2024-05-20T03:00:55","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/philippines-implements-single-electronic-invoicing-system-for-imports\/"},"modified":"2024-05-20T03:00:55","modified_gmt":"2024-05-20T03:00:55","slug":"philippines-implements-single-electronic-invoicing-system-for-imports","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/philippines-implements-single-electronic-invoicing-system-for-imports\/","title":{"rendered":"Philippines implements single electronic invoicing system for imports"},"content":{"rendered":"
\n

THE PHILIPPINE government <\/span>has enforced a single electronic invoicing system for all imported commodities, as it explores nonmonetary measures to address rising food prices.<\/p>\n

Under Administrative Order (AO) No. 13 signed by President Ferdinand R. Marcos, Jr. on May 13, the country will implement digital and integrated pre-border technical verification and cross-border electronic invoicing for all imported commodities entering the country.<\/span><\/p>\n

A single electronic invoicing system is necessary to \u201ceffectively monitor international trade transactions of all imported goods,\u201d according to the order.<\/p>\n

It would also \u201cstrengthen national security, safeguard consumers\u2019 rights, and protect the environment against sub-standard and dangerous imported goods,\u201d the order read.<\/p>\n

The new system, which the Bureau of Customs (BoC) shall implement within two years, will be enforced gradually. The first phase covers agricultural goods including fresh and frozen meat, f<\/span>ish and other aquatic resources, cereals, fruits, vegetables, and feeds.<\/p>\n

The second phase covers non-agricultural goods with health and safety issues, while the last phase will cover other goods with misdeclaration to avoid duties and taxes.<\/p>\n

The AO also created a Committee for Pre-border Technical Verification and Cross-border Electronic Invoicing, which will be chaired by the Finance secretary.<\/p>\n

The committee\u2019s members include the secretaries of the departments of Agriculture, Trade, energy, Health, Environment and Natural Resources, and Information Communications Technology. <\/span><\/p>\n

Committee members also include the BoC commissioner, director-general of Philippine Drug Enforcement Agency, and two non-voting representatives from duly recognized industry associations to be appointed by the chairperson upon the committee\u2019s recommendation.<\/span><\/p>\n

Funding for the order\u2019s implementation would be charged against the available appropriations of the BoC and other members of the committee, according to the order.<\/p>\n

The new system followed the issuance of an AO mandating the Agriculture department as well as the Trade and Finance agencies to further ease procedures for agricultural imports and remove non-tarif<\/span>f barriers.<\/p>\n

Non-tarif<\/span>f barriers are policy measures that restrict trade such as quotas, import licensing systems, regulations and red tape, among others, according to AO 20.<\/p>\n

Inflation accelerated for a third straight month to 3.8% in April from 3.7% in March. It also marked the f<\/span>ifth straight month that inflation settled within the BSP\u2019s 2-4% target range.<\/p>\n

Food inf<\/span>lation rose to 6.3% in April from 5.7% in March.<\/p>\n

Inflation averaged 3.4% in the January-April period, below the central bank\u2019s 3.8% full-year forecast. \u2014 Kyle Aristophere T. Atienza <\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE PHILIPPINE government has enforced a single electronic invoicing system for all imported commodities, as it explores nonmonetary measures to address rising food prices. Under Administrative Order (AO) No. 13 signed by President Ferdinand R. Marcos, Jr. on May 13, the country will implement digital and integrated pre-border technical verification and cross-border electronic invoicing for [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[14644,17965,168,14081,13719,17966,1572,4446,2479],"class_list":["post-18826","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bworldonline","tag-electronic","tag-for","tag-implements","tag-imports","tag-invoicing","tag-philippines","tag-single","tag-system"],"yoast_head":"\nPhilippines implements single electronic invoicing system for imports - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/philippines-implements-single-electronic-invoicing-system-for-imports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philippines implements single electronic invoicing system for imports - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE PHILIPPINE government has enforced a single electronic invoicing system for all imported commodities, as it explores nonmonetary measures to address rising food prices. 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