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Philippines Arranges Tax Exemptions For Haiyan Relief Goods

by Mary Swire, Tax-News.com, Hong Kong

18 November 2013


Kim Henares, Commissioner of the Bureau of Internal Revenue, has confirmed that foreign donations and relief goods arriving in the Philippines for the victims of the Haiyan super typhoon will not be taxed, if their arrival is coordinated with government agencies.

She indicated that, following the terms of the country's tax code, import duties or taxes, such as value added tax, will not be imposed on foreign donations if they were properly documented through the appropriate channels.

The donors should also make sure to coordinate their arrival with the Department of Social Welfare and Development (DSWD), the National Disaster Risk Reduction and Management Council (NDRRMC) or private relief foundations accredited by the Government. A unified office is established by the NDRRMC, DSWD and the Department of Finance in the event of natural disasters to document and register incoming foreign aid.

In addition, it was disclosed that businesses within the Haiyan disaster areas, which have experienced looting following the typhoon, will be able to deduct their losses from income tax, for the part that is not covered by insurance. Proper documentation of the goods lost will be necessary, including a police report.

TAGS: Finance | tax | business | value added tax (VAT) | insurance | Philippines | ministry of finance | tax breaks | import duty | Welfare

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