Declaring More Than 10,000 Dollars On Arrival.

[dalidali]

As I recall the limit is $10,000 USD or 10,000 pesos. i.e. These are 2 different things.

Indeed they are different but it still boggles my mind why ANYONE would care if your taking out or bringing in.....the equivalent of $230 bucks.

Edited September 12, 2013 by dalidali

[Jollygoodfellow]

 

As I recall the limit is $10,000 USD or 10,000 pesos. i.e. These are 2 different things.

Indeed they are different but it still boggles my mind why ANYONE would care if your taking out or bringing in.....the equivalent of $230 bucks.

 

 

I think the original question was asking about 10.000 US Dollars. You must declare if you are bringing dollars as 10.000 dollars is not 230 bucks

 

 

BRINGING CURRENCY INTO THE PHILIPPINES

 

 

BRINGING IN AND TAKING OUT OF FOREIGN CURRENCY IN EXCESS OF US$10,000.00

 

No permit is required from the Bangko Sentral ng Pilipinas to bring in to or to take out from the Philippines of foreign currencies.  However, foreign currency in excess of US$10,000 carried by the traveler must be declared at the Bureau of Customs Desk in the airport. This is pursuant to the Anti-Money Laundering Act of 2001, which requires all money transactions involving amounts in excess of PhP400,000 to be reported to the Anti-Money Laundering Council (even if the transaction is done through the banks).

 

Travelers arriving in the Philippines must submit to the Bureau of Customs Desk in the airport Arrival Area a Declaration Form stating the amount (foreign currency in excess of $10,000.00) being brought in. The source of the money (e.g., personal income) must be stated.

 

Travelers departing the Philippines must submit to the Bureau of Customs Desk in the airport Departure Area a Declaration Form stating the amount (foreign currency in excess of $10,000.00) to be brought in or taken out of the Philippines. The source of the money (e.g., personal income) must be stated.

 

BRINGING IN AND TAKING OUT OF THE PHILIPPINES PHILIPPINE CURRENCY IN EXCESS OF PHP10,000

 

The taking in and bringing out of Philippines of Philippine currency in excess of PhP10,000 is strictly prohibited, and any need carry any currency in excess of the said amount must be given authorization by the Bangko Sentral ng Pilipinas (BSP) Cash Division.

 

http://www.philippineconsulate.com.au/bringing-currency-into-the-philippines.html

[dalidali]

I think the original question was asking about 10.000 US Dollars. You must declare if you are bringing dollars as 10.000 dollars is not 230 bucks

 

 

Yes but.....$230 USD bucks is equivalent to 10000P agreed?

 

Now that were in agreement, what possible sense can it make to report the movement of $230 USD worth of pisos?

 

430000P (equivalent to $10000 USD) ok...but come on....10000p ($230 USD equivalent) is just ludicrious.

 

The whole idea of reporting the movement of $10000 USD was to thwart, or slow down, the possibiliy of money laundering and other nefarious pursuits...

 

Maybe the Phil government has other ideas....as one commenter suggested it was an old and antiquated regulation to keep the metal value of coins from seeking other climes.

 

With all due respect.....10000p is not going to get you much laundry done, nor fund a network of nefarious activites.

A hotel room, a couple of meals and a night out on Mango Road, supporting the chrome pole polishers is about it.

 

But in the end.....the rule is the rule isn't it? From my cheap seat.....silly but the rule none the less.

[brock]

If I arrive in the Philippines I am allowed 10,000 English pounds, Any more and I have to declare it.                                          American 10,000 American dollars.

 Canadian 10,000 Canadian dollars,

 Australian 10,000 Australian dollars

 And same goes for Philippines, 10,000 piso.

 

The same when you leave.

[Americano]

I think the Philippines likes to copy other countries especially the USA so that's why their limit is 10,000 also. That's the only explanation that makes any sense.

[JJReyes]

Joeatmanila, we had Japanese-American friends who traveled to Greece about a year and half ago. They were asked how much currency they were carrying and the group gave a truthful reply. The airport authorities then gave them a hard time. Apparently, the Greek system of tax avoidance is to ask customers to pay in cash. Hotels will give you an additional 15% discount. Even the restaurants will offer a discount in exchange for cash payments. Therefore, having a lot of cash makes you a suspicious character. 

 

They recently developed a system in Silicon Valley where your presence and information is known the minute you enter a restaurant. Your profile includes whether or not you are a regular customers; where you like to seat; what you enjoy eating; etc. Everything is through your smart phone. When it is time to pay, the bill appears on the screen. Just press to accept or your phone can call the manager to your table if there is a dispute. 

 

From an earlier posting, it appears that medical doctors in the Philippines will agree to a reduction if you don't require an official receipt from them. Can you imagine the amount the B.I.R. would collect if the system changes from cash to credit cards? 

[Thomas]

Travelers arriving in the Philippines must submit to the Bureau of Customs Desk in the airport Arrival Area a Declaration Form stating the amount (foreign currency in excess of $10,000.00) being brought in. The source of the money (e.g., personal income) must be stated. Travelers departing the Philippines must submit to the Bureau of Customs Desk in the airport Departure Area a Declaration Form stating the amount (foreign currency in excess of $10,000.00) to be brought in or taken out of the Philippines. The source of the money (e.g., personal income) must be stated.

Yes, and better declare if bringing a high amount, because otherwice it can be unnecesary trouble to get it out later (e g if buying a condo and sell it some years later). So keep the evidience.

[jon1]

From an earlier posting, it appears that medical doctors in the Philippines will agree to a reduction if you don't require an official receipt from them. Can you imagine the amount the B.I.R. would collect if the system changes from cash to credit cards? 

 

This is not only within the medical system. If you do this with most any vendor you can haggle for a discount. I have used mechanics, plumbers, etc under this notion.

 

I used to do this regularly with my US Mechanic (Harley certified) in Makati that worked on my Harley. I got a way cheaper price and they honored all work done. It was still 1/3 cheaper than a Harley dealership in the states. 

[Jollygoodfellow]

Yes but.....$230 USD bucks is equivalent to 10000P agreed?   Now that were in agreement, what possible sense can it make to report the movement of $230 USD worth of pisos?  

 

Because its the Philippines currency and 10.000 is a lot for the Philippines so there is no use arguing about damn US dollars as its the Philippines not the US.

[JJReyes]

dalidali, on 11 Sept 2013 - 11:20 PM, said: Yes but.....$230 USD bucks is equivalent to 10000P agreed?   Now that were in agreement, what possible sense can it make to report the movement of $230 USD worth of pisos?     Because its the Philippines currency and 10.000 is a lot for the Philippines so there is no use arguing about damn US dollars as its the Philippines not the US.

 

For purposes of clarification, the Philippines declaration form has two separate questions:

 

1. Do you have more than P10,000 with you?

 

2. Do you have more than $10,000 with you?