Treatment of Authorized Economic Operators (AEOs).
Section 1227
SEC. 1227. Treatment of Authorized Economic Operators (AEOs). – The Bureau shall promulgate the necessary procedures and requirements for the compliance of Authorized Economic Operators (AEOs). For AEOs who have displayed diligence in complying with the rules and the submission of official customs requirements, and have satisfactorily managed their commercial records, the Bureau shall extend the following incentives: (a) Release of the goods upon provision of the minimum information necessary to identify the goods and permit the subsequent completion of the final goods declaration; (b) Grant of clearance of the goods at the declarant's premises or another place authorized by the Bureau; and (c) Other special procedures such as: (i) Allowing a single goods declaration for all imports or exports in a given period where goods are imported or exported frequently by the same person; (ii) Use of commercial records to self-assess their duty and tax liability and, where appropriate, to ensure compliance with other customs requirements; and (iii) Allowing the lodgement of goods declaration by means of an entry in the records by the authorized person to be supported subsequently by a supplementary goods declaration.