MANILA, Philippines—The Bureau of Internal Revenue (BIR) on Monday (April 12) released the guidelines for tax-free perks to be enjoyed by coronavirus vaccine importers under the COVID-19 Vaccination Program Act of 2021.
Citing Republic Act (RA) No. 11525, Finance Secretary Carlos Dominguez III and Internal Revenue Commissioner Caesar Dulay said in Revenue Regulations (RR) No. 1-2020 that starting Jan. 1, 2021, public and private procurement, importation, donation, storage, transport, deployment, as well as administration of coronavirus vaccines were exempted from Customs duties, 12-percent value-added tax (VAT), excise and donor’s tax, among other fees.
The tax-exemption incentiv…
Keep on reading: BIR on tax-free coronavirus vaccine importation: No resale, commercial use