Philippines Customs and importing

[lordna]

Anybody know anything about importing stuff to the Philippines from the UK?

Just want to know what it costs to import stuff to resell and where i can find out costs.

[jonnijon]

Anybody know anything about importing stuff to the Philippines from the UK?

Just want to know what it costs to import stuff to resell and where i can find out costs.

I would be interested to know that also. A friend of mine here in the Philippines bought a battery for a camera online, and when it arrived the duty was four times the cost of the battery:omg::omg:I think there is still corruption in the customs.

[fred]

Balikbayan box.

[stevewool]

Balikbayan box.

YES,:xxgrinning--00xx3:

[lordna]

Balikbayan box.

Can't use balikbayan boxes as i am talking about reselling goods. It has to be legit!

[fred]

Can't use balikbayan boxes as i am talking about reselling goods. It has to be legit!

If you want a legitimate business here,there are quite a few steps to follow before you can even think about importing stuff from the U.K to the R.P for resale.. Your "business" needs to be registered with the DTI for starters and of course the BIR..You will also need a Mayors permit..After all that rigmarole, as a foreigner you can only own 40% of the business..Thats if you want a legitimate partnership at all..
Taxes need to be filed quarterly so you will need a good accountant..Fail to file taxes here will incur very stiff financial penalties in % terms.
A legit business must issue official BIR receipts only for all sales.
No idea what you want to sell here from the UK but you better make sure its a damned good seller if you want to go "legit"!!
If it were me,I`d test the waters with a few BB boxes as a trial for 6 months to find out if a so called future business is viable in regards demand and profitability for your imported products.


Duty RatesDuty rates in Philippines vary from 0% to 65%, with an average duty rate of 10.5%. Some products can be imported free of duty, e.g. laptops and other electronic products.Sales TaxGoods imported into Philippines are subject to VAT at a rate of 12% calculated over the CIF value plus any applicable duty.Minimum thresholdsWhen an import’s CIF value does not exceed US$15 it is exempt from duty. However, VAT is applicable.Other taxes and customs fees

https://www.dutycalculator.com/country-guides/Import-duty-taxes-when-importing-into-Philippines/



Good luck..You will most certainly need it!:wink:

[lordna]

If you want a legitimate business here,there are quite a few steps to follow before you can even think about importing stuff from the U.K to the R.P for resale.. Your "business" needs to be registered with the DTI for starters and of course the BIR..You will also need a Mayors permit..After all that rigmarole, as a foreigner you can only own 40% of the business..Thats if you want a legitimate partnership at all..
Taxes need to be filed quarterly so you will need a good accountant..Fail to file taxes here will incur very stiff financial penalties in % terms.
A legit business must issue official BIR receipts only for all sales.
No idea what you want to sell here from the UK but you better make sure its a damned good seller if you want to go "legit"!!
If it were me,I`d test the waters with a few BB boxes as a trial for 6 months to find out if a so called future business is viable in regards demand and profitability for your imported products.



https://www.dutycalculator.com/country-guides/Import-duty-taxes-when-importing-into-Philippines/



Good luck..You will most certainly need it!:wink:

Thanks Fred, very useful. It will be the sister-in-law running the business, we just plan to source the goods (provided duty& taxes are not too great).