Global Trade Alert
Global Trade Alert

Philippines: Exempted VAT on the imports of drugs and medical equipment

Announcement

08 Apr 2021

In April 2021, the Philippines exempted VAT on the imports of drugs, medical equipment, and raw materials to produce drugs and personal protective equipment to mitigate the impact of the COVID-19 pandemic. 

Source

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Number of interventions

4

2 certainly harmful

0 likely harmful

2 liberalising

List of interventions

Implementation date

01 Jan 2021

Revocation date:

31 Dec 2021

Announced: 08 Apr 2021
Tax or social insurance relief
On 8 April 2021, the Philippines issued the Bureau of Internal Revenue Regulation No. 4-2021 granted a selective tax concession to manufacturers of drugs for the treatment of the COVID-19 in the form ...
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Announced: 08 Apr 2021
Tax or social insurance relief
On 8 April 2021, the Philippines issued the Bureau of Internal Revenue Regulation No. 4-2021 granted a selective tax concession to manufacturers of Personal Protective Equipment (PPE) in the form of a...
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Implementation date

01 Jan 2021

Revocation date:

31 Dec 2021

Announced: 08 Apr 2021
Internal taxation of imports
On 8 April 2021, following the issuance of the Philippines Bureau of Internal Revenue Regulation No. 4-2021, the Philippines exempted the VAT on imported raw materials used to produce the drugs for th...
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Announced: 08 Apr 2021
Internal taxation of imports
On 8 April 2021, the Philippines issued the Bureau of Internal Revenue Regulation No. 4-2021 to exempt the VAT on imports of drugs and medical equipment used for the treatment of the COVID-19 pandemic...
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Related State Acts

To be prolonged: 15 Oct 2020

Philippines: Exemption from duties and taxes on imports of certain medical goods in response to the COVID-19 pandemic

To be prolonged: 08 Apr 2021

Philippines: VAT Exemption for the Import of Drugs and Medicines

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