CM304 Test 2 Questions with Verified Correct
Answers
500% OF THE TAX DUTY AND DUE
When the misdeclaration, misclassification or under valuation is intentional or fraudulent, such
as when a false or altered document is submitted or when false statements or information are
knowingly made, a surcharge shall be imposed equivalent to ________ and that the goods shall
be subject to seizure regardless of the amount of the discrepancy without prejudice to the
application of fines or penalties provided under Section 1401 of the CMT A against the importer
and other person or persons who willfully participated in the fraudulent act.
30 DAYS
An importer or exporter may file a written application for an advance ruling on the tariff
classification of goods with the Commission. The Commission shall render a ruling within _____
from receipt of aproperly documented application.
30 DAYS
An importer or exporter may file a written application for an advance ruling on the tariff
classification of goods with the Commission. The Commission shall render a ruling within_____
from receipt of a properly documented application.
15 DAYS
The importer who is aggrieved by the ruling of the Commissioner of Customs on T ariff
Classification may submit the matter to the T ariff Commission for a ruling within______from
receipt of the ruling.
, 30 DAYS
The importer who is aggrieved by the ruling of the Commissioner of Customs on T ariff
Classification may file an appeal with the Court of T ax Appeals (CT A) within
from_____receipt of the ruling.
30 DAYS
An importer or exporter may file a written application for an advance valuation ruling on the
proper application of a specific method on customs valuation of specific goods as prescribed in
Title VII, Chapter 1 of this Act. The application for a valuation ruling shall be filed with the
Commissioner who shall issue a ruling within ____ from submission of the application form and
supporting documents as may be required by rules and regulations.
48 HOURS
the dispute does not involve difficult or highly technical questions on proper application of
methods of valuation and the District Collector adopts the findings of the Customs Officer, the
District Collector shall notify within ______ the aggrieved importer of his ruling in writing
stating his reasons and with a directive to pay the duties and taxes in full based on the valuation
made by the Customs Officer.
30 DAYS
An importer or exporter may file a written application for a ruling on whether the goods qualify
as originating under the rules of origin of the applicable preferential trade agreement. The
application for an advance ruling on origin shall be filed with the appropriate office who shall act
Answers
500% OF THE TAX DUTY AND DUE
When the misdeclaration, misclassification or under valuation is intentional or fraudulent, such
as when a false or altered document is submitted or when false statements or information are
knowingly made, a surcharge shall be imposed equivalent to ________ and that the goods shall
be subject to seizure regardless of the amount of the discrepancy without prejudice to the
application of fines or penalties provided under Section 1401 of the CMT A against the importer
and other person or persons who willfully participated in the fraudulent act.
30 DAYS
An importer or exporter may file a written application for an advance ruling on the tariff
classification of goods with the Commission. The Commission shall render a ruling within _____
from receipt of aproperly documented application.
30 DAYS
An importer or exporter may file a written application for an advance ruling on the tariff
classification of goods with the Commission. The Commission shall render a ruling within_____
from receipt of a properly documented application.
15 DAYS
The importer who is aggrieved by the ruling of the Commissioner of Customs on T ariff
Classification may submit the matter to the T ariff Commission for a ruling within______from
receipt of the ruling.
, 30 DAYS
The importer who is aggrieved by the ruling of the Commissioner of Customs on T ariff
Classification may file an appeal with the Court of T ax Appeals (CT A) within
from_____receipt of the ruling.
30 DAYS
An importer or exporter may file a written application for an advance valuation ruling on the
proper application of a specific method on customs valuation of specific goods as prescribed in
Title VII, Chapter 1 of this Act. The application for a valuation ruling shall be filed with the
Commissioner who shall issue a ruling within ____ from submission of the application form and
supporting documents as may be required by rules and regulations.
48 HOURS
the dispute does not involve difficult or highly technical questions on proper application of
methods of valuation and the District Collector adopts the findings of the Customs Officer, the
District Collector shall notify within ______ the aggrieved importer of his ruling in writing
stating his reasons and with a directive to pay the duties and taxes in full based on the valuation
made by the Customs Officer.
30 DAYS
An importer or exporter may file a written application for a ruling on whether the goods qualify
as originating under the rules of origin of the applicable preferential trade agreement. The
application for an advance ruling on origin shall be filed with the appropriate office who shall act
