Tuesday, January 03, 2012

All Imported Books Are Tax-Free

The Philippines' Department of Finance has announced that all imported books are tax-free. An excerpt from the article:

All books imported into the Philippines, whether for personal or commercial use, are tax-free, according to the Department of Finance (DOF).

Last December 12, Finance Secretary Cesar Purisima signed Department Order No. 57-2011 emphasizing the duty- and VAT-free status of imported books, and detailing guidelines covering clearance procedures from customs.

"All imported books, whether for commercial or personal use with the exception of those published by or for a private commercial enterprise essentially for advertising purposes as stated in Annex A of the Florence Agreement, are exempt from customs duties. Importation of books is likewise exempt from value-added tax (VAT) pursuant to Section 109 (R) of the National Internal Revenue Code," the order stated.

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