Philippines: review on zero tariff items ordered
The Department of Finance has asked for a review of the zero duty on four items ’ cement and clinker, flour, wheat, and some chemical products ’ as the agency seeks to plug all revenue leakages to generate more funds for the government.
Trade and Industry Secretary Gregory L. Domingo has confirmed the instruction even emanated from Malacanang, but said he has yet to discuss this formally with Finance Secretary Cesar V. Purisima. The DTI is chair of the technical committee of the Tariff and Related Matters.
Before these import tariffs have been lifted, cement and clinker carried a five per cent tariff, steel seven and flour three per cent. It is not certain, however, what are the chemical items which tariffs have been brought down to zero.
’The reduction to zero on the import tariffs of these items has revenue loss consideration, thus the call for the review,’ an official said.
Published under Cement News
