Tax, duty exemption of imported raw materialS for medical supplies OKd

Companies that make medicines, medical supplies and medical equipment can now import the materials they need without having to pay import duties, taxes and other fees, according to a joint circular issued by the Department of Trade and Industry and the Department of Finance.

The circular took effect on April 1, although the exemption of “critical or needed equipment or supplies” was already included in the Bayanihan law, which President Duterte signed on March 24.

According to the joint memorandum circular, the exemption applies to products like test kits or medical gowns, as well as to the raw materials and packaging materials needed to make them.

The government support comes near the tail-end of the enhanced community quarantine in Luzon and other parts of the country.

Under the Bayanihan to Heal as One Act, Duterte has the authority to liberalize the grant of incentives for critical or needed equipment or supplies.

“This is the least the administration could do to help our healthcare front-liners win the battle against COVID-19 by ensuring their access to personal protective equipment and other necessities to protect themselves and to medicines and medical supplies to treat their patients,” said Finance Secretary Carlos Dominguez III.

This came as the administration extended the quarantine in an effort to flatten the curve. INQ