Tag Archives: balikbayan box

Government, Politics

Philippine Senate Approves 1,500 Percent Increase In Balikbayan Box Tax Exemption

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imageMANILA, Philippines (The Adobo Chronicles) – We asked Siri what 1,500% of P10,000 was, and her answer was P150,000. And that’s exactly what the Philippine Senate wants in terms in an increase in the tax-exemption for Balikbayan boxes.

The Balikbayan box is part of the Philippine government’s incentive program for Filipino expatriates to encourage them to send goods to their loved ones back home, tax-free.  The current tax-free limit is P10,000.

The Senate has approved on third and final reading a bill that would not only modernize the Bureau of Customs (BoC) but would also raise the tax-exempt value of balikbayan boxes from P10,000 to P150,000.

Senate Bill No. 2968, known as the Customs Modernization and Tarrif Act (CMTA), was approved by the chamber Monday.
Senator Sonny Angara, chairman of the Senate committee on ways and means and sponsor of the bill, said the measure aims to amend the Tariff and Customs Code of the Philippines (TCCP) in compliance with the Revised Kyoto Convention (RKC) which is a blueprint for “modern and efficient customs procedures” of the World Customs Organization.

If it becomes law, what does the bill mean for overseas Filipinos?

It means they can stop going to Walmart or Costco to buy bulk items or designer goods to pack into their Balikbayan boxes.

They will now be able to shop at Saks Fifth Avenue, Nordstrom and Macy’s, as well as buy grocery items from Whole Foods or Trader Joe’s.  It also means that the  high-definition, flat screen television sets they send to their families back home can now be as large as 69 inches, as opposed to the usual 29 inches.

It’s really more fun in the Philippines, especially if you have relatives in the U.S. and other countries.

 

Business, Economy

Filipinos Flocking To Walmart Stores After Retail Giant Announces Closures

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imageSAN JOSE, California (The Adobo Chronicles) – From California to Texas, from Florida to New Jersey — Filipinos are lining up in droves at Walmart stores for the final chance to stock up on discounted bulk items to send back home to their loved ones. This, after the retail giant announced it will soon close hundreds of its stores in the U.S. and elsewhere. The lines were reminiscent of those seen on Black Friday.

Yesterday, The Adobo Chronicles reported that thousands of Filipino Americans were shocked and upset that their go-to source for goods to pack into their balikbayan boxes was closing for good.

Our i-Reporters have confirmed that among the first items to disappear from Walmart store shelves were Nike and Adidas shoes, designer shirts and socks, canned goods like Spam, corned beef and Vienna sausage, bath soap and shampoo,  as well as rolls and rolls of toilet tissue.

Walmart store managers had to employ additional security personnel to help maintain order and prevent chaos or injury to customers and employees.

To find a Walmart store near you, just ask Google or Siri.

 

 

 

Economy, International

Walmart Store Closures Could Put An End To Filipino Balikbayan Boxes

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imageLOS ANGELES, California (The Adobo Chronicles) –  Walmart, the popular consumer goods warehouse,  will close 269 stores worldwide, including 154 in the United States, as part of what the company is calling “portfolio management,” it was announced Friday.

The global retail giant, known for being a one-stop-shop for buying just about anything at discounted prices, said financial performance and “strategic alignment with long-term plans” went into consideration in the decision which shocked many Filipino Americans.

Walmart is the go-to source for thousands of Filipinos in America for items to put in their balikbayan boxes to send back home to their families.

Balikbayan boxes are used by FilAms when sending gifts to their families back home. Contents of the boxes are tax-free.

Among the popular items packed into the boxes include cases of canned goods like SPAM, Vienna sausage and corned beef; multiple packs of athletic socks, 24-packs of toilet tissue, bath soap, toothpaste, instant coffee; and designer t-shirts and running shoes — all available for deep discounts at Walmart.

It is therefore quite understandable that Filipino Americans are extremely upset at today’s Walmart announcement.

It could potentially put an end to the balikbayan box business in America and will certainly cause irreparable frustration for millions of Filipinos who regularly receive gifts from their relatives in America.

Fortunately, there is the COSTCO alternative for FilAms wishing to purchase discounted bulk items to send via the balikbayan box.