Bill grants tax exemption to med supplies for Covid cure


A leader of the House of Representatives on Wednesday filed the proposed “Covid-19 Emergency Tax Exemption Act” to clear emergency procurement of medical supplies and devices for Covid-19 prevention, control and treatment from taxes, fees and charges.

House Committee on Ways and Means  Chairman Joey Salceda said his House Bill 9958 seeks to grant the Secretary of Finance, upon the recommendation of the Secretary of Health and Secretary of Trade and Industry, broad powers to exempt the manufacture, sale, and importation of such goods from taxes, fees, and charges.

The bill also grants the power to exempt exporters from their export quotas, so they may be able to meet domestic market demand.

The effectivity of the proposed bill is until December 2022, which Salceda said, “is probably long enough to achieve herd immunity.”

“This bill will allow Philippine Economic Zone Authority-registered enterprises to sell their goods to the domestic market when we need it,” Salceda said.

“Anyway, the Secretary of Finance may or may not choose to invoke the power. As long as it’s there for when we need it,” Salceda added.

The measure mandates the Secretary of Finance to issue the necessary rules and regulations for the implementation of such exemption.

“As variants grow more infectious even as the country tries to attain herd immunity, our health-care capacity will experience periodic surges of cases. As a result, certain essentials, such as medical oxygen, personal protective equipment [PPE], ventilators, syringes, and other devices will be in short supply during critical periods,” said Salceda.

Read full article on BusinessMirror

Leave a Reply