Refund of Duties and Taxes.
Section 903
SEC. 903. Refund of Duties and Taxes. – Refund shall be granted where it is established that duties and taxes have been overcharged as a result of an error in the assessment or goods declaration. Where permission is given by the Bureau for goods originally declared for a customs procedure with payment of duties and taxes to be placed under another customs procedure, a refund shall be made of any duties and taxes charged in excess of the amount due under the new procedure, subject to such regulation issued for the purpose. A refund shall not be granted if the amount of duties and taxes involved is less than five thousand pesos (P5,000.00): Provided, That the Secretary of Finance, in consultation with the Commissioner, may adjust the minimum amount specified in this Act, taking into account the CPI as published by the PSA.