Law Summary
Admission to Professional Practice and Business Engagement
- Customs brokerage is recognized as a professional service requiring admission based on individual qualifications.
- Corporations may register to engage in customs brokerage business provided they employ at least one licensed customs broker.
- "Engaging in the business of customs brokerage" means representing importer clients before the Bureau of Customs (BOC) and other government agencies.
- Corporations must have a minimum paid-up capital of one million pesos (Php 1,000,000.00) to be accredited by the BOC.
Repealing Clause
- All laws, presidential decrees, executive orders, memorandum orders, administrative orders, rules, and regulations inconsistent or contrary to this Act are repealed, modified, or amended accordingly.
Effectivity Clause
- The Act shall take effect fifteen (15) days after publication in the Official Gazette or any newspaper of general circulation in the Philippines.