The Bureau of Internal Revenue issued Revenue Regulations No. 06-2020 (March 2020) to provide an exemption from value added tax (VAT), excise tax, and other fees for imported health-care equipment and supplies as well as the raw materials for use in the manufacture of such equipment and supplies—provided that the importing manufacturer is included in the master list of the Department of Trade and Industry (DTI).
Also in response to the coronavirus (COVID-19) pandemic, the Bureau of Internal Revenue issued Revenue Memorandum Order No. 10-2020 (March 2020) to exempt certain goods listed in Revenue Regulations No. 06-2020 from the “authority to release imported goods” requirements of the Bureau of Customs, pursuant to the implementation of the “enhanced community quarantine,” to prevent any delay in the distribution of covered goods.
Read a June 2020 report prepared by the KPMG member firm in the Philippines
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