Volume 13 Number 1 - University of the Philippines College of Law

January - March 2002 National Administrative Register 497
The Schedules of Penalties are as follows:
ì1. For late filing of financial statements, income tax returns, performance reports,
annual reports and all other reports/documents as specifically enumerated under
Section 4 Rule XXI or required under existing circulars of the PEZA:
Basic Fine Daily Fine
1 st Violation P 500.00 P 50.00
2 nd Violation 1,000.00 150.00
3 rd Violation 2,000.00 200.00
2. Failure to wear or display openly the prescribed ECOZONE identification cards/
passes -
1st violation - Reprimand
2nd violation - Confiscation of ECOZONE identification cards/
passes with denial of access to specific areas
in the ECOZONE for ten (10) days
3rd violation - Permanent confiscation of identification cards/
zone passes with perpetual denial of access
to specific areas in the ecozone.
3. For violation of Rules X and XI of these Rules:
FIRST VIOLATION a fine ranging from 50% to 100% of the value of the
goods or merchandise.
SECOND VIOLATION a fine ranging from 101% to 150% of the value of the
goods or merchandise.
THIRD VIOLATION a fine ranging from 151% to 200% of the value of the
goods or merchandise
For purposes of this rule, the value of the goods shall mean the average valuation
appearing in the invoices, commercial documents or records on file with the PEZA for the
same or similar goods or merchandise for the last three (3) years reckoned from the date of
violation or in the absence thereof, the latest CIF valuation of the Bureau of Customs on the
subject goods or merchandise.
B. Suspension of Permits - The PEZA may suspend, withhold, disapprove or revoke import
or export permits, authority to engage in local sale, authority to farm-out, to avail of any
incentive or privilege being administered by the PEZA for failure to comply with these
Rules, any provision of the Registration Agreement between the PEZA and the ECOZONE
enterprise, the terms and conditions of the permits/franchises issued by the PEZA and/or
for violation of the Act and the pertinent provisions of the Code and the Decree within a
stipulated or reasonable period of time.