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 Importing Precious Metals Regulations

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canadiansilver



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PostSubject: Importing Precious Metals Regulations   Sun Aug 21, 2011 11:58 pm

Well doing some research on the net has netted me some interesting information. Rolling Eyes
I have discovered the Department of Industry and trade lists Gold and silver as a prohibited import if the fineness and quality is not stamped on it. Question here is a copy of the txt

" The importation into the Philippines of the following articles is prohibited:
Dynamite, gunpowder, ammunitions and other explosives, firearms, and weapons of war, and parts thereof, except when authorized by law
Written or printed articles in any form containing any matter advocating or inciting treason, or rebellion, insurrection, sedition, or subversion against the Government of the Philippines, or forcible resistance to any law of the Philippines, or containing any threat to take the life of, or inflict bodily harm upon any person in the Philippines
Written or printed articles, negatives or cinematographic film, photographs, engravings, lithographs, objects, paintings, drawings, or other representation of an obscene or immoral character
Articles, instruments, drugs and substances designed, intended or adapted for producing unlawful abortion, or any printed matter, which advertises or describes or gives directly or indirectly information where, how or by whom unlawful abortion is produced
Roulette wheels, gambling outfits, loaded dice, marked cards, machines, apparatus or mechanical devices used in gambling or the distribution of money, cigars, cigarettes, or other when such distribution is dependent on chance, including jackpot and pinball machines or similar contrivances, or parts thereof
Lottery and Sweepstakes tickets except those authorized by the Philippine government, advertisements thereof, and list of drawings therein

Any article manufactured in whole or in part of gold, silver or other precious metals or alloys thereof, the stamps, brands or marks or which do not indicate the actual fineness of quality of said metals or alloys

Any adulterated or misbranded articles of food or any adulterated or misbranded drug in violation of the provisions of the "Food and Drugs Act"
Marijuana, opium, poppies, coca leaves, heroin or any other narcotics or synthetic drugs, which are or may hereafter be declared habit forming by the President of the Philippines, or any compound, manufactured salt, derivative, or preparation thereof, except when imported by the Government of the Philippines or any person duly authorized by the Dangerous Drugs Board, for medical purposes only
Opium pipes and parts thereof, or whatever material
All other articles and parts thereof, the importation of which is prohibited by law or rules and regulations issued by competent authority as amended by Presidential Decree (PD) No. 34

i cannot repost the weblink right now as I am under 7 days a member here. Anyone have any experience bring a small amount into the country? I am going to call the department tomorrow and see what the deal is on this stuff and if I ok bring in a small qty or else there might be a tarrif.! That would suck No scratch
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ericgo



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PostSubject: Re: Importing Precious Metals Regulations   Mon Aug 22, 2011 8:47 am

basically if you declare the coins you will bring in they will charge you a tariff rate of 10% then 12% VAT. The tariff heading they will use will fall under 7118.90.20 for silver coins (legal tender) and 7118.10.10 for silver coins (not legal tender).

I've brought in a few coins before from Singapore and Canada with no problems whatsoever.
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canadiansilver



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PostSubject: Re: Importing Precious Metals Regulations   Tue Aug 23, 2011 12:00 pm

Thanks Eric Smile
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lizjensen001



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PostSubject: Re: Importing Precious Metals Regulations   Wed Aug 24, 2011 9:33 am

i've asked favor from a relative who went home from the states to bring in some coins for me (total of 23 pcs), there was no problem... it was mostly american eagles in various years and other coins....
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richardthebrave



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PostSubject: Re: Importing Precious Metals Regulations   Wed Aug 24, 2011 12:05 pm

lizjensen001 wrote:
i've asked favor from a relative who went home from the states to bring in some coins for me (total of 23 pcs), there was no problem... it was mostly american eagles in various years and other coins....

no problem.... meaning they weren't taxed?
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lizjensen001



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PostSubject: Re: Importing Precious Metals Regulations   Thu Aug 25, 2011 9:53 am

yes, they were not taxed, plus they were not even given attention....
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richardthebrave



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PostSubject: Re: Importing Precious Metals Regulations   Thu Aug 25, 2011 8:06 pm

^well that's good, maybe they were thinking those weren't silver coins. people can benefit from that oversight
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canadiansilver



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PostSubject: Re: Importing Precious Metals Regulations   Fri Sep 09, 2011 5:55 am

Well if anyone was looking to find me at Manila airport they would have been waiting a long time because I landed at Clark Field a few days ago. No problem entering the country and no search preformed of my luggage. The declaration form does not list the direct mention of precious metal but it does list a declaration of any prohibited items. I just declared nothing and also I did not have more then $10,000.00 to bring so all was good. Should they wanted to have a look and question me I was going to say that these coins have face values and they are just Pasabulong for the family anyways! Very Happy
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