Sponsored Links
JBSOLIS is a site for all about health and insurances, SSSOWWAPAG-IBIGPhilhealthbank loans and cash loansforeclosed propertiessmall house designs, local and overseas job listings.


Sunday, December 20, 2015

BoC: This Christmas, Balikbayan boxes are Not Subject to Physical Examination

According to the CNN Philippines news:  

"Bureau of Customs (BoC) Deputy Commissioner Arturo Lachica said in an interview with CNN Philippines Digital that this Christmas season the bureau would be more lenient in the processing of pasalubong (homecoming gifts) of overseas Filipino workers (OFWs)."
"We don't strictly impose Customs duty and taxes on the real balikbayan boxes. We know that the law is outdated. It was enacted in 1967 — even traffic did not exist during those times. Lachica explained that the Tariff and Customs Code only allows Filipinos who stayed at least six months abroad to bring in personal effects worth P10,000 and an additional P10,000 worth of appliances." 
"In excess of P10,000, the balikbayan will be taxed 50% ad valorem tax.  That's why more often than not, we don't really strictly enforce this especially during Christmas season." 

According to Lachica, Section 100 of the law also stipulates that all imported goods are subject to taxes — including signature and second-hand items. 

"For example, if something was bought abroad, was used there and was brought back here, it's still included — it's still taxable. It should be in the declaration if you go out of the country.  So that when you come back, it will not be subject to tax."