Toyota is PH's biggest importer in 2023

MANILA: Toyota Motor Philippines (TMP) is the country’s second biggest importer for 2023.

In a statement, the country's leading automotive distributor was able to remit a total of P44 billion in duties and taxes, which contributed to the agency's strong collection last year.

Aside from that, the the company was hailed as one of the organizations to receive the Authorized Economic Operator (AEO) Level 2 from the agency at the 122nd Bureau of Customs (BOC) Founding Anniversary celebration.

To note, the AEO program is a customs-to-business partnership that aims to promote legitimate trade facilitation and provide seamless movement of goods through secure international supply chains.

TMP shared that the accreditation certifies that the company was able to meet the BOC’s general and security criteria in accordance with the World Customs Organization (WCO) Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework).

Under AEO Level 2, TMP shall enjoy the perks of simplified customs processes and priority through a dedicated processing lane, advance clearance, periodic lodgment, one-time exemption certificate, and expedited customs clearance for exports.

The aforementioned advantages are on top of the Level 1 benefits that the firm has been receiving, including exemption from renewal of BOC accreditation, self-assessment of duty and tax liability, acceptance of goods declaration consistent with TMP’s trade documents, and access to a dedicated help desk.

TMP recalled that it became the first-ever AEO-certified organization in the Philippines that reached Level 1 accreditation in 2022.

Photos from Toyota Motor Philippines

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