Wht are the caveats of transferring large money to non relative (OZ to PH)?

claireang

Hi everyone!

Hope all is week. Just thought to ask po sana if for example you may need to transfer say 35k AUD from OZ to a non relative person/friend in PH. Also, just thought to ask din po the following:

(1) I gathered from reading online, it seems na if more than 10,000 AUD ang international fund transfer ay need ideclare because of tax (?) purposes sa OZ? Otherwise, ano po kaya risks?

(2) I also gathered online, it seems sa PH, any funds in form of gifts from abroad in excess of 250Kphp within same calendar year will be taxed 6%. E.g. per table below, for 1.2Mphp money remitted, there is 950K net gift over 250K. So it will be 14Kphp + 6% x (excess over 500K = 450K)?

(3) item 2 is not necessarily needed or not applicable for my situation.

(4) What is the best way of carrying out the international fund transfer in terms of hindi naman maging suspiscious and magka issue sa AML law (anti money laundering law ng OZ)? I have these thoughts po kasi na since hindi blood related and hindi normal activity yung big remittance na yun e baka mapansin? Or hindi naman po yun magiging issue basta i breakdown into smaller amounts in batches yung remittance?

Thank you in advance po for your time and any assistance is grealty appreciated. Kindly correct na lang po if any of my understanding is wrong.

Here is the link po for the BIR taxes on international fund transfers which I saw.

https://www.bir.gov.ph/index.php/tax-information/donor-s-tax.html