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Sunday, June 05, 2016

GOOD NEWS, OFW BALIKBAYAN BOX MAXIMUM WORTH UP TO P150,000 NO MORE TAX!


Good news mga kabayan, the tax-exemption up to P150,000 for all OFWs is now a law and will be in effect 15 days after posting at the daily newspapers and in the government website. This means that an OFW can send two boxes at the same time provided that their total worth is not more than P150,000. That will be counted as one shipment, and an OFW can send up to 3 shipment in a year. The boxes, however, must contain “personal and household effects only and shall neither be in commercial quantities, nor intended for barter, sale or for hire."















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I hope no one will abuse this law, not sending goods that will be used for business purposes. We also hope that more OFWs will save their money buying for property or saving for business rather than buying stuffs from abroad. Although most of the goods being sent by Overseas Filipinos are the give-aways from their employers or some items bought at a bargain price. 
The new law states that OFWs can send balikbayan box worth up to P150,000, and up to 3 boxes in one shipment. 
If you are working overseas for 5 years you can send up to P250,000 worth of goods in a year and if you are overseas Filipino for 10 years or more, you can send Balikbayan cargo up to P300,000.
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This article is filed under: OFW News, Balikbayan Box, OFW Balikbayan Box, Balikbayan Box Tax©2016 THOUGHTSKOTO