LBC’s customers in the US and North America who are now busy filling up “balikbayan” boxes to be sent to their loved ones in the Philippines will now be able to do so without worrying about the rules imposed by the Bureau of Customs (BoC) since August 1, 2017.
This came about after new BoC Commissioner Isidro Lapena issued last Sept.28 a memorandum suspending the implementation of the Customs Modernization Tariff Act (CMTA). The suspension will end on March 31, 2018.
The rules provide parameters for “balikbayan” shipments and who are qualified to send them so they can avail themselves of the tax exemptions.
Because of the suspension, there is no more need for overseas Filipinos (OFs) to submit documents such as information sheet; a photocopy of their passport; and invoice or proof of purchase of items to be sent through the balikbayan box.
There is also no need to fill out Customs’ forms detailing the gifts to be sent. There is also no more limit to the number of times an OF can send balikbayan box, and there is no more cap or maximum amount that each box can carry.
And the P150,000 duty- and tax-free privilege on balikbayan box shipments is restored.
LBC, the largest and leading forwarding company in the Philippines, welcomed this development, saying many overseas Filipinos are still unaccustomed with the rules and the suspension will give them time to focus on sending joy and gifts to their loved ones during the Holiday season.
LBC is the Philippines’ market leader in retail and corporate courier and cargo, money remittance, and logistics services. With a growing network of over 6,400 branches, hubs and warehouses, partners and agents in over 30 countries, LBC is committed to moving lives, businesses and communities and delivering smiles around the world.