The Commission is authorized to require any importer, grower, producer, manufacturer or seller to file with the Commission a statement, under oath, giving the selling prices in the Philippines of goods imported, grown, produced, fabricated or manufactured by such person.

Study for the Tariff Law 2 – Tariff Commission Exam. Utilize flashcards and multiple choice questions, enhanced with hints and explanations. Prepare efficiently for your test!

Multiple Choice

The Commission is authorized to require any importer, grower, producer, manufacturer or seller to file with the Commission a statement, under oath, giving the selling prices in the Philippines of goods imported, grown, produced, fabricated or manufactured by such person.

Explanation:
The key idea is that the Tariff Commission has the authority to compel price information from market participants to support its tariff and trade investigations. By allowing the Commission to require any importer, grower, producer, manufacturer, or seller to file sworn statements of their selling prices in the Philippines, the body ensures reliable, first-hand data on domestic price conditions. This data under oath helps the Commission assess how imports affect local prices, determine necessary tariff measures, and monitor market trends. The other agencies—Bureau of Customs (handles duties and entry processing), Department of Agriculture (policy for agriculture), and Department of Trade and Industry (regulates business and consumer issues)—do not have this specific mandate to collect sworn price data for tariff decisions, so the Commission is the correct authority to require those statements.

The key idea is that the Tariff Commission has the authority to compel price information from market participants to support its tariff and trade investigations. By allowing the Commission to require any importer, grower, producer, manufacturer, or seller to file sworn statements of their selling prices in the Philippines, the body ensures reliable, first-hand data on domestic price conditions. This data under oath helps the Commission assess how imports affect local prices, determine necessary tariff measures, and monitor market trends. The other agencies—Bureau of Customs (handles duties and entry processing), Department of Agriculture (policy for agriculture), and Department of Trade and Industry (regulates business and consumer issues)—do not have this specific mandate to collect sworn price data for tariff decisions, so the Commission is the correct authority to require those statements.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy