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tokyoman

Do NOT bring more than 10,000 pesos into the country!

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Monsoon

why didnt he just declare it ? I assume for tax reasons ??  [ in Canada there is no tax on casino/lottery winnings, but in the US I think it is almost 50% ? ]

 

 

 

Here is a link to one article about the incident. http://news.sportsinteraction.com/casino/casino-winner-lies-to-border-guards-loses-20000-76037/

 

I read a summary of their appeal and the basis had something to do with 'structuring' the import/export of currency to avoid the $10,000 threshold. 

 

It is illegal to structure an importation or exportation in order to avoid filing the required report under 31 USC § 5324©(3). For example, if a person wanted to transport $25,000 from the U.S. to Brazil, it is illegal to divide the money into smaller sums and export those smaller sums on the same or different occasions to avoid filing a report. It does not matter if the money is divided and given to a  person on the same flight (or same car, bus, boat, etc.), or if it’s done days, weeks, months, or years apart if done to avoid having to file a report — structuring the transaction to avoid filing the report is illegal and carries serious civil and/or criminal consequences. It does not matter if you have other reasons for structuring the transaction, so long as one of those reasons to is to avoid having to file a report your structuring of the transaction is illegal.

 

In the Windsor/Detroit case it was a prime example of why not to cooperate and make any statements if you are being investigated by police. By their own admission they built the structuring case. 

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Davaoeno

 

It does not matter if the money is divided and given to a  person on the same flight (or same car, bus, boat, etc.), or if it’s done days, weeks, months, or years apart if done to avoid having to file a report — structuring the transaction to avoid filing the report is illegal

 

wow ! that is really scary stuff 

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passingby

Really - how many times have members been checked by customs entering the Philipppines?  I never have had a bag or brief case opened!  There are other places to carry money than in your pocket.  I am not advocating breaking the law but it seems things have gotten a bit extended here.  The customs at Manila wave people through unless you have a bunch of bags and boxes.

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Davaoeno

Really - how many times have members been checked by customs entering the Philipppines?  I never have had a bag or brief case opened!  There are other places to carry money than in your pocket.  I am not advocating breaking the law but it seems things have gotten a bit extended here.  The customs at Manila wave people through unless you have a bunch of bags and boxes.

 

The case mentioned was about bringing money into the US - and I  believe it coz it happened to my former partner . 

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to_dave007

I left the Philippines with about 15,000 peso on me once, and returned without thinking about it.. and then when I filled out the customs declaration I realized I had an issue.

 

So when I got to the customs desk I just told them straight up that I had 15,000 peso, and that it was same 15,000 peso I had taken out when I left a month or so before.  I didn't argue or pass judgement on their laws.  I just stated the facts of how much money I had, and where it had come from.

 

They just waived me through.  No problem.

Edited by to_dave007

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XBroker

When I went to Davao I took 6k pesos and then took £400 hidden in my jacket shoulder pocket. I know it wasn't illegal to bring that much in but before I went I had read a lot about scams that go on and I go paranoid lol.

 

The only thing the security at Manila got out of me was a box of chocolates.

You can bring in chocolate. You can't bring in chocolate. Make up my mind.

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Dublin boy

We leaving Manila I have seen Koreans being patted down then asked what's in your pocket sir, for sure a big bundle of peso so off they went to discuss what to do ??

I was also patted down and ask the same question and just answered of course it's 10,000 peso do you want to count it. The guy just smiled and waved me on.

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A_Simple_Man

 

 

I was also patted down and ask the same question and just answered of course it's 10,000 peso do you want to count it.

 

This intrigues me.  Why would anyone want to take a lot of pesos out of the country?  You cannot spend them anywhere else and I cannot think of a place you can exchange them for more than you would get int the Philippines.  Are they just souvenirs?  If you plan to bring them back on your next visit then why not leave them in an interest earning account?

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spydoo

 If you plan to bring them back on your next visit then why not leave them in an interest earning account?

 

They may not have a PH bank account. It's hardly worth opening one for a few hundred dollars.

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dnl_grout

 

 

This intrigues me.  Why would anyone want to take a lot of pesos out of the country?

 

They don't they think what they have is just pocket change.

 

The rest like you and I only need taxi fair, latte, and the same ATM that we go to weekly or bimonthly.   To simple its boring. 

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Dublin boy

This intrigues me.  Why would anyone want to take a lot of pesos out of the country?  You cannot spend them anywhere else and I cannot think of a place you can exchange them for more than you would get int the Philippines.  Are they just souvenirs?  If you plan to bring them back on your next visit then why not leave them in an interest earning account?

It all depends what you call lots, if that really bothers you I went to hong kong on buisness then I had to come back to Manila for more buisness and that included money for meals drink etc.

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A_Simple_Man

 

 

This intrigues me.

 

 

if that really bothers you

It bothers me that you think "intrigued" means 'bothered" or do you just feel better when you put your words into my mouth?  :snap:

 

It surprises me (again - not 'bothers') that people think 10,000 pesos is just small change.  Perhaps opening a bank account for that is extreme but I would surely exchange it for another currency before leaving, if I had 10,000 pesos or more.  I'm just practical that way.

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to_dave007

It bothers me that you think "intrigued" means 'bothered" or do you just feel better when you put your words into my mouth? 

 

It surprises me (again - not 'bothers') that people think 10,000 pesos is just small change.  Perhaps opening a bank account for that is extreme but I would surely exchange it for another currency before leaving, if I had 10,000 pesos or more.  I'm just practical that way.

 

Good for you.  I'm with the other guys.  I am back and forth at least a couple times a year.. and I take OUT what happens to be with me (occasionally more than 10,000) and then bring it back when I return..  simply because it's convenient to do so and avoids the need to convert money or use ATM at the airport when I get back. 

 

But if you'd prefer to be practical..  and spend time and money to put 10,000 in the bank for a few months to collect the 100 or less peso in interest you might get after tax..  well..  you DO have that right.  Can't say I find it very practical..  But to each his own I suppose. 

Edited by to_dave007
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Lee

One reason we may take out around p10,000 is because that is the max we can take out and we always need money when we come back. Sometimes we have come back on a unexpected holiday (seems to be more and more of those each year) when the machines were empty and sometimes like this year we have come back and then gotten sick from all the idiots on the plane with colds, flu and who knows what else, and then we had to mostly stay home but still needed food for that week until we recovered but p10,000 is an arbitrary number for us, we just try to keep below that and if we have any extra over and above that when about to leave, then we deposit it into our Philippine bank account but realize not everyone has a bank account. I think this year we ended up leaving with a little under p9,000 and have never been questioned even once at the airport, i guess because I am with my wife. :unsure:

 

As a side note, anyone leaving with money, make sure it is all new bills as they will discontinue the old bills at the end of the year and places will stop taking them sometime before that, so if you come back next year those old bills will be worthless as money and if you come back towards the end of the year you may have to go to the bank to exchange them and I think we all know banks in the Philippines usually will only deal with people who have accounts. 

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perrya

But, if one does not claim they have more than 10,000p on them, and nothing to claim in other items, I have heard that customs just waves you through. In other words, they do not physically check you, or do they? A person can easily hide additional money. The system is on honesty, so I am sure many bring in way more to avoid money exchange hassles.

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