Tag: Customs Modernization and Tariff Act

Customs bureau: P6.5 million worth of misdeclared luxury bags, shoes intercepted at NAIA

(Eagle News)–The Bureau of Customs on Friday, Sept. 18, said it seized P6.5 million worth of misdeclared luxury bags and shoes at the Ninoy Aquino International Airport. The bureau said the shipment–which, among others, contained handbag brands such Prada, Gucci, Hermes, Louis Vuitton, Chanel, Christian Dior, and Valentino in commercial quantities—had been declared as “assorted clothes, shampoo” from Maisons-Alfort, France. It was  consigned to a certain Reynaldo Tan in Paircargo Warehouse. “The misdeclaration is an […]

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There are new rules on small-value tobacco, alcohol imports, BOC bares

MANILA, Nov. 18 – Small value importations of tobacco goods as well as wines and spirits are still subject to excise taxes under a new Customs Administrative Order (CAO) that raises to P10,000 the tax-exempt value of non-commercial imports. Finance Undersecretary Antonette Tionko, who heads the Revenue Operations Group of the Department of Finance (DOF), said the CAO also lists goods prohibited and restricted for importation. “The proposed CAO provides that de minimis importations of tobacco […]

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Congress ratifies Customs Modernization and Tariff Act

Only President Benigno S. Aquino’s signature is needed for the Customs Modernization and Tariff Act or CMTA to fully become a law, after it was ratified by both the Senate and the House of Representatives. Said law aims to end corruption by automating the customs and tariff administration. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)

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Balikbayan boxes lower than Php 10, 000 will be tax free

The Bureau of Customs (BOC) is confident that the Congress will pass the proposed Customs Modernization and Tariff Act, which aims to exempt from taxes balikbayan boxes that are worth Php 10, 000 and lower. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)

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