Starting Dec 25, Balikbayan boxes are tax free up to P150,000

Starting Dec 25, Balikbayan boxes are tax free up to P150,000

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@MindaNation

MANILA, December 21, 2016 (PNA) — Here’s welcome news and a fitting gift to our Overseas Filipino Workers (OFW) this holiday season.

Starting this December 25, balikbayan boxes with values not exceeding P150,000 will be exempted from paying duties and taxes.

The good news was announced by Bureau of Customs spokesperson Colonel Neil Anthony Estrella at a press briefing in Malacañang on Tuesday.

Bureau of Customs Administrative Order 05-2016 lifts taxes on balikbayan boxes for qualified Filipinos while abroad, including Filipino citizens who are residing abroad and Filipinos who are holders of student, investors, and tourist visas.

To be covered by this ruling, balikbayan boxes shall contain personal and household effects only, and content should not be in commercial quantities or intended for sale.

Also, the availment of the privilege is limited to a maximum of three times per calendar year.

At the same press briefing, Estrella also announced the Bureau’s heightened alert against the smuggling of pyrotechnics in the country.

“Customs Commissioner Nicanor Faeldon has issued a memorandum to remind all officials and personnel to keep a tight watch on the entry of illegal finished firecrackers, fireworks, and other pyrotechnic devices in the country,” said Estrella.

The only exemption which is allowed by law is the importation of ingredients used in manufacturing fireworks. (PNA)




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