The Convention on Temporary Admission, also known as the ATA Carnet System, is set to take effect in the Philippines on April 17, 2022, paving the way for the duty-free and tax-free importation of goods for up to one year.

The development follows the deposit of the Instrument of Accession on January 17 by Philippine Ambassador to Belgium, Luxembourg, and the European Union Eduardo José A. de Vega and accepted by World Customs Organization Secretary General Kunio Mikuriya at the WCO headquarters in Brussels, Belgium.

The Philippines is set to become the 73rd contracting party to the Convention.

For the full report, visit PORTCALLS