The Bureau of Customs has increased the minimum dutiable value from Php10 to Php10,000. This basically means that imported goods not exceeding the limit will no longer be subject to taxes.
The BOC has announced that the Customs Administrative Order (CAO) that will implement a salient feature of the Customs Modernization and Tariff Act (CMTA) has already been signed and approved.
According to the agency, goods with de minimis value are considered importations with negligible amount and entitled to immediate release.
Based on Section 423 of the CMTA, “[n]o duties and taxes shall be collected on goods with freight on board (FOB) or free carrier (FCA) value of P10,000.00 or below.”
There are exclusions from immediate release as specified by the CAO which includes prohibited and restricted importations. Tobacco goods, wines and spirits, on the other hand, shall still be subject to payment of excise tax, as provided by the National Internal Revenue Code (NIRC).
This is good news for those who import goods as the minimum taxable value has been limited at Php10 for years and anything above has a corresponding amount. It is still unclear whether there will be documentary stamp taxes and EVAT that still need to be paid, but the customs will no longer charge for items below Php10,000.
Hi po sa taga CUSTOMS na nasa PHILPOST near Terminal 4, nag package ang aking asawa, cost of 200 pounds from london.
ANG LAKI NG TAX 4,064 Pesos!!!
Pwede nyo po bah ipaliwanag sa akin? Hindi ko pa po kinuha yong items,
0977*******
Thank you po Sir/Maam,