Some provisions of CMTA to be carried out soon-BOC
Export Development Council (EDC)
April 19, 2016
The Customs Modernization and Tariff Act (CMTA) has been approved by the Bicameral Conference Committee last January. It is being finalized by both Houses of Congress to be enrolled to the Office of the President for his approval. However, even before the law is enacted, five provisions under the CMTA will be carried out soon as announced by Bureau of Customs Deputy Commissioner Agaton Uvero.?
The first is on relief consignment, requiring that donations to calamity victims are both duty-free and tax-free. Uvero said that another priority is the issuance of Customs Administrative Orders to implement the declarant provision. On the urgent list too is the increase in de minimis value from P10 to P10,000 for articles brought into the country duty-free through postal companies, international couriers or by hand-carry. Yet another priority is the issuance of rules to implement the increase in the amount of exemption for a balikbayan box to P350,000 for those who have stayed in a foreign country for at least ten (10) years and have not availed of this privilege. The fifth on the priority list states that all goods declared for consumption should be cleared through formal entry process.?