OFW should not be worried about sending their Balikbayan boxes after President Benigno Aquino signed Customs Modernization and Tariff Act (CMTA).
Under Republic Act 10863 or CMTA, the tax exemption ceiling of the items will be sent P150,000 from the previous P10,000.
“With the increase in the values, we lessen the discretion of the Customs officials to inspect goods and collect taxes, thus minimizing cases of corruption and smuggling,” said Sen. Sonny Angara, chairman of the Senate ways and means committee and sponsor of the CMTA.
“Heaven forbid, we punish our OFWs through the imposition of high taxes and the alleged theft of shipments within Balikbayan boxes,” he added.
The law also states that every OFWs can send Balikbayan boxes three times per year as long as it costs no more than P150,000.
Besides tax and duty free Balikbayan boxes, the Filipinos remained overseas for ten years and return to the Philippines will also be given tax exemption for ‘personal’ and ‘household effects’ is no more than P350,000.
The Filipinos who have resided abroad for five years are entitled to a tax and duty free less than P250,000.
