ASSESSMENT AND RELEASE

Sec. 423. Determination of the De Minimis Value. – No duties and taxes shall be collected on goods with an FOB or FCA value often thousand pesos (P10,000.00) or below. The Secretary of Finance shall adjust the de minimis value as provided herein every three (3) years after the effectivity of this Act. The value herein stated shall be adjusted to its present value using the CPI, as published by the PSA. 

Sec. 424. Duty of Customs Officer Tasked to Assess Imported Goods. – For purposes of assessing duties and taxes on imported goods, the customs officer shall classify, value, and determine the duties and taxes to be paid. The customs officer shall prepare and submit an assessment report as established under this Act. 

Sec. 425. Tentative Assessment of Goods Subject to Dispute Settlement. – Assessment shall be deemed tentative if the duties and taxes initially assessed are disputed by the importer. The assessment shall be completed upon final readjustment based on the tariff ruling in case of classification dispute, or the final resolution of the protest case involving valuation, rules of origin, and other customs issues. The District Collector may allow the release of the imported goods under tentative assessment upon the posting of sufficient security to cover the applicable duties and taxes equivalent to the amount that is disputed. 

Sec. 426. Tentative Assessment of Provisional Goods Declaration. – Assessment of a provisional goods declaration shall be deemed tentative and such assessment shall be completed upon final readjustment and submission by the declarant of the additional information or documentation required to complete the declaration within the period provided in Section 403 of this Act. 

Sec. 427. Readjustment of Appraisal, Classification or Return. – Such appraisal, classification or return, as finally passed upon and approved or modified by the District Collector, shall not be altered or modified in any manner, except: 

• (1) Within one (1) year after payment of the duties, upon statement of error in conformity with Section 912 of this Act, as approved by the District Collector; 

• (2) Within fifteen (15) days after such payment, upon request for reappraisal or reclassification addressed to the Commissioner by the District Collector, if the appraisal or classification is deemed to be low; 

• (3) Upon request for reappraisal and/or reclassification, in the form of a timely protest addressed to the District Collector by the interested party if the latter should be dissatisfied with the appraisal or return; or (4) Upon demand by the Commissioner after the completion of compliance audit in accordance with the provisions of this Act. 

Sec. 428. Assessment of Duty on Less Than Entered Value. – Duty shall not be assessed in any case upon an amount less than the entered value, unless by direction of the Commissioner in cases when the importer certifies at the time of entry that the entered value is higher than the dutiable value and that the goods are so entered in order to meet increases made by the appraiser in similar cases then pending re-appraisement; and the lower assessment shall be allowed only when the importer's contention is sustained by a final decision, and shall appear that such action of the importer was taken in good faith after due diligence and inquiry. 

Sec. 429. Final Assessment. – Assessment shall be deemed final fifteen (15) days after receipt of the notice of assessment by the importer or consignee. 

Sec. 430. Period of Limitation. – In the absence of fraud and when the goods have been finally assessed and released, the assessment shall be conclusive upon all parties three (3) years from the date of final payment of duties and taxes, or upon completion of the post clearance audit. 

Sec. 431. Release of Goods after Payment of Duties and Taxes. – Goods declared shall be released when duties and taxes and other lawful charges have been paid or secured and all the pertinent laws, rules and regulations have been complied with. When the Bureau requires laboratory analysis of samples, detailed technical documents or expert advice, it may release the goods before the results of such examination are known after posting of sufficient security by the declarant. 

Sec. 432. Release of Goods to the Holder of Bill of Lading or Airway Bill. – Any customs officer who releases goods to the consignee or lawful holder of the bill of lading or airway bill shall not be liable for any defect or irregularity in its negotiation unless the customs officer has notice of the defect or irregularity. 

Sec. 433. Release of Goods Without Production, of Bill of Lading or Airway Bill. – No customs officer shall release goods to any person without the submission of the bill of lading or airway bill covering the goods, except on written order of the carrier or agent of the vessel or aircraft, in which case neither the government nor the customs officer shall be held liable for any damage arising from wrongful release of the goods: Provided, That when the release of goods is made against such written order, the customs officer shall require the submission of a copy of the bill. 

Sec. 434. Release of Goods Upon Order of Importer. – An importer may issue a written authorization for the release of goods stored in a bonded warehouse to another person. Such authorization shall not relieve the importer from liability for the duties, taxes and other charges due on the goods unless the person to whom the release was authorized assumes such liability. 

Sec. 435. Withholding Release Pending Satisfaction of Lien. – When the District Collector is duly notified through a lawful order of a competent court of a Hen for freight, lighterage or general average upon any imported goods, the District Collector shall withhold the release of the goods unless the claim has been paid or secured. In case of disagreement, the District Collector may release the goods after payment of the freight and lighterage due on the quantity or weight landed as actually determined. 

Sec. 436. Fine or Surcharge on Goods. – Goods subject to any fine or surcharge shall be released only after the payment of the fine or surcharge.