QuestionsQuestions (OWWA PDOS ADVISORY NO. 01, S. of 2010)
It informs overseas Filipino workers (OWWs) bound for Malaysia of a new currency declaration requirement being enforced by the Central Bank of Malaysia (Bank Negara Malaysia) effective 01 January 2010, involving declarations to Malaysian customs for certain amounts of cash and/or bearer negotiable instruments.
All persons entering or leaving Malaysia with cash and/or bearer negotiable instruments exceeding an amount equivalent to USD 10,000.
An amount exceeding an equivalent of USD 10,000 in cash and/or bearer negotiable instruments.
It became effective on 01 January 2010.
The declaration must be made to the Royal Malaysian Customs.
Customs Form 22.
It will be available at all major entry and exit points in Malaysia.
A maximum fine of RM1 million and/or imprisonment of not more than one (1) year.
Non-declaration or false declaration may lead to both financial and criminal liability, specifically the stated maximum fine and imprisonment.
The advisory states the obligation applies to amounts exceeding USD 10,000; therefore, exactly USD 10,000 is not clearly covered by the phrase “exceeding.”
They must declare the amount to the Royal Malaysian Customs using Customs Form 22 at the relevant entry/exit point.
It covers both cash and bearer negotiable instruments.
They should determine whether the amount exceeds the USD 10,000-equivalent threshold and, if so, prepare to declare it to Royal Malaysian Customs using Customs Form 22 at major entry/exit points.
It emphasizes that OWWA (through the advisory) requires or urges strict compliance by OFWs to avoid the penalties under Malaysian rules.
It was adopted on 16 February 2010 and signed by (SGD.) Carmelita S. Dimzon, DPA (Administrator).