Tags: Consumer Goods and Concerns
By Nikka Garriga
MANILA CITY, METRO MANILA— Book enthusiasts may now have another reason to enjoy their latest purchase of imported novels.
The Department of Finance (DoF) has exempted imported books – both for personal and commercial in quantity - from any extensive documentary requirements provided that such materials are “cleared and released through the declaration of goods as provided under existing rules and regulations.”
“This declaration of goods form is part of the normal process in importing goods wherein you declare anything that you will bring in to the Philippines,” said Finance chief Cesar Purisima.
Order No. 57-2011 declares all imported books “exempt from customs duties and value-added tax (VAT) pursuant to Section 109 (R) of the National Internal Revenue Code.”
This was recently issued in accordance to the “Florence Agreement” to which the Philippines is a signatory since 1953.
The agreement mandates contracting states not to apply custom or other form of charges on “educational, scientific and cultural materials” such as books and newspapers, except on those published “essentially for advertising purposes.”
Books categorized for “personal use” are those “embracing all articles of personality not considered as merchandise.” It should also “not exceed 12 copies of any one work when imported by an institution or six copies of any one work when imported by an individual.”
The order has indicated a list of documentary requirements needed to secure the particular endorsement, including those for donated books, to guide importers on which merchandise are tax- and duty-free.
Related Stories:
Solon renews call to abolish amusement tax
Marikina residents hope for lower taxes, continued cleanliness
Bill eyes tax deductions for parents of ‘special’ children
Advertising Agribusiness Agriculture Airline Industry Aquaculture Automobiles Banking Car Accessories consumer elec Consumer Electronics Consumer Goods and Concerns Cooperatives Cottage Industries Death Entrepreneurship Filipinos Abroad Food Establishments Groceries and Shopping Centers Handicraft Handicrafts hardware Hardware Solutions Horticulture Internet Livelihood Programs Malls Mass Media and Communications Mobile Phone Industry OFWs Outsourcing Real Estate Software Solutions technology Technology Industry teleco Telecommunications Tourism Transportation Vermiculture Wholesale and Retail
WP Cumulus Flash tag cloud by Roy Tanck and Luke Morton requires Flash Player 9 or better.
|
|
|
|
|
|
|
|
When will this be effective?