Revisit palm oil import tax regime, gov’t urged

MANILA  -Two business teams on Tuesday urged the federal government to revisit its coverage granting duty-free privileges and different tax-exemptions to importers of palm oil to be used in animal feeds, alleging that present laws are being utilized in technical smuggling and are hurting native industries.

Federation of Philippine Industries (FPI) Chairman Jesus L. Arranza stated they’ve already despatched a letter final February to President Ferdinand Marcos Jr. -who can be the concurrent agriculture secretary- to specific their sentiment, and their intent to work with the Division of Agriculture (DA) to place a cease to the unlawful use of imported palm olein.

“The DA also needs to revisit this coverage of permitting zero (worth added tax) and duty-free importations of palm olein as that is clearly hurting the native coconut and palm oil farmers and producers,” Arranza stated in a letter to the President dated Feb 23.

“There needs to be strict validation relative to such causes given by importers and efficient monitoring on the place these importations are literally utilized,” he added.

Arranza, who can be the president of the Coconut Oil Refiners Affiliation (Cora), stated he has knowledgeable the president even earlier that has paperwork which will help the federal government in going after merchants who secured responsibility and tax-free privileges from the Bureau of Animal Business (BAI) however used their imports for functions aside from in compounding animal feeds.

He alleged that these palm olein imports ended up out there as cooking oil or had been channeled to biodiesel producers as substitutes to the costlier coconut oil.

READ MORE:

Probe of unlawful sale of palm olein set

Additionally on DA’s plate: Stopping palm oil smuggling

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