The agency noted that commercial use of the vaccine is subject to customs duties as well as value-added and excise taxes under Revenue Regulations 1-2021.Department of Health Usec. Maria Rosario Vergeire said, however, that the vaccine is not yet available in the market.
Regulations state that government, private entities, and international organizations like the Philippine Red Cross will continue to get tax exemption privileges as long as they distribute the vaccines free of charge.To gain tax exemption, the BIR requires importers and distributors to present a certified true copy of the vaccine procurement agreement with the national government and local government units .
The regulations took effect on Jan.1, 2021 and will last until the state of calamity declared by President Duterte is lifted. It was signed by Department of Finance Sec. Carlos Dominguez III upon the recommendation of BIR Commissioner Caesar R. Dulay.
Wow, walang pinalampas