Order a lot of stuff overseas? We have good news for you: the Bureau of Customs have announced that they have raised the minimum dutiable value of items from the ancient amount of Php 10 (which ensured that almost everything that you ordered overseas will be taxed) to a more realistic Php 10,000.
According to a post in the BOC’s website, Customs Administrative Order (CAO) No. 02-2016 signed by current Customs Commissioner Nicanor Faeldon and Finance Secretary Carlos Dominguez III states that “[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.”
This means that orders from overseas that do not pass the 10K value will NOT be taxed by customs, and customers will only have to pay the required documentary and handling fees.
Importations of tobacco goods, wines and spirits within the de minimis value shall still be subject to payment of excise tax, as provided by the National Internal Revenue Code (NIRC).
The CAO will take effect on October 24, 15 days after its publication in the Official Gazette. The full text of the CAO can be found here.
Now to start shopping online…