Philippine Zero Tariffs 5-Year Longer for Imported Fixed Assets & Accessories

The Philippines plans to prolong its zero tariff policy for 5 years on importing fixed assets and accessories by its registered enterprises, which is scheduled to expire this May and involve equipments and accessories under Chapter 40, 59, 68, 69, 70, 73, 76, 82, 83, 84, 85, 87, 89, 90, 91 and 96 in Philippine tariff schedule.

So long as such products made domestically are short of supply, defective in quality or unreasonable in price, any enterprises registered with Philippine BOI can enjoy zero tariffs for such imports so as to ease fund pressure on starting enterprises and attract foreign investment from the Asian market.