Tuesday, December 13, 2016

BOC lifting the tax on balikbayan boxes on December 25 and Balikbayan pasalubong

An Update on Balikbayan box tax exempt: 
The BOC is also set to issue an order lifting the tax on balikbayan boxes worth P150,000 and less starts on December 25, 2016.


Pasalubong mula abroad na P10,000 pababa ang halaga, tax-free na

MANILA - Imported packages sent through the Philippine Postal Corporation (PHLPost) and valued under P10,000 are free of duties and taxes starting Tuesday. 
PHLPost is now implementing a Customs Administrative Order (CAO) which amends the value of duty-free imports from P10 to P10,000. 
A sample computation of the Bureau of Customs (BOC) shows that under the previous tax ceiling, sending an imported pair of shoes worth P10,000 entailed P2,000 in insurance charge, Customs duty, extended value-added tax, and Customs documentary stamp. 
Assistant Postmaster General Luis Carlos added that a lower tax ceiling also means avoidable expenses for both the public and government, according to a study by Asia-Pacific Economic Cooperation (APEC). 
"May APEC study na kami pupunta pa sa sender para bigyan ng notice at sila naman mamamasahe para pumunta dito (PHLpost office)," Carlos said. 
(We have an APEC study showing that we incur expenses in giving notices to the sender while they also spend money to go to our office.)
BOC Commissioner Nicanor Faeldon, meanwhile, said the higher tax ceiling will benefit benefit thousands of consumers, most especially
overseas Filipino workers who regularly send care packages to their loved ones in the Philippines. 
credit/source: http://news.abs-cbn.com/business/10/25/16/starting-today-packages-below-p10000-now-tax-free