Commodity

Commodity Details

Chapter 71.18 Coin.
Heading 7118.90 – Other :
Commodity 7118.90.10 – – Gold coin, whether or not legal tender

    FOR IMPORTS AND EXPORTS OF LEGAL TENDER PHILIPPINE NOTES AND COINS, CHECKS, MONEY ORDER AND OTHER BILLS OF EXCHANGE DRAWN IN PESOS AGAINST BANKS OPERATING IN THE PHILIPPINES IN AN AMOUNT EXCEEDING PHP50,000

    For Imports

    Regulating Agencies

    Department of Finance
    • A. Mabini St. cor. P. Ocampo St., Malate, 1004 Manila
    • 8811-1277
    • 8988-4800
    • bspmail@bsp.gov.ph / currencyinvestigation@bsp.gov.ph
    • http://www.bsp.gov.ph

    Legal Basis

    Permits, Clearances, Certifications

    • Prior written authorization from the BSP

    Requirements & Procedures

    Documentary Requirements

    Bangko Sentral ng Pilipinas

      Prior written authorization from the BSP, through the International Operations Department (IOD), is required for any person who will bring into or take out of the country, or electronically transfer, legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in pesos against banks operating in the Philippines in an amount exceeding PHP50,000. The BSP, however, allows cross-border transfer of local currency in excess of the PHP50,000 limit only for the following purposes:

    1. testing/calibration/configuration of money counting/sorting machines;
    2. numismatics (collection of currency); and
    3. currency awareness.

      Documentary Requirements

    1. Covering letter/request indicating the purpose and details of the request (i.e., information on the breakdown of the amounts, types and quantity of notes and coins); and
    2. Supporting documents, as needed, such as valid photo-bearing identification with signature, information on incorporation documents (e.g., Securities and Exchange Commission certificate of registration).

    Procedures

    Bangko Sentral ng Pilipinas

    1. Applicant shall submit above documentary requirements to the BSP prior to importation or exportation/actual travel date/arrival in the Philippines.
    2. The BSP will then check the compliance and completeness of the submitted documents and will perform pre-assessment.
    3. If the application lacks documents/information, the BSP shall issue an abeyance letter.
    4. Otherwise, the BSP shall issue an acknowledgement letter and proceed with the evaluation of the request and issuance to the applicant of a Letter Authority/Advice on the matter.

    NTMs

    Import Status

    Regulated

    For Exports

    Regulating Agencies

    Department of Finance
    • A. Mabini St. cor. P. Ocampo St., Malate, 1004 Manila
    • 8811-1277
    • 8988-4800
    • bspmail@bsp.gov.ph / currencyinvestigation@bsp.gov.ph
    • http://www.bsp.gov.ph

    Status

    The export of this commodity is currently regulated. Please contact the regulating agency above for export requirements and procedures.

    NTMs

    1. BSP – Prior Authorization

    Tariff Schedules

    Visit the Philippine Tariff Commission (TC) through its Philippine Tariff Finder (PTF).

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