Short link to this page: http://bit.ly/UPTaxExemption
The Department of Finance has notified the University that the 0% Value-added Tax (VAT) rate for the University has been repealed through the TRAIN Law. Customs duties may still be waived through the letter of commitment. The current template also includes a request for tax subsidy on the VAT. (January 2019)
16 May 2019: Some units have been asked the following additional requirements in their submissions:
- Financial Statement and Financial Cash Flow (can be provided by OVPPF)
- Details of tax subsidy requirement – Please provide the estimate/quote from your broker, etc.
- Certification that items for which the tax subsidy is sought shall be used exclusively in the pursued of mandated – OP will prepare with the Letter of Commitment.
To avoid delays and to properly track the documents, please take note of your DTS Number. It is best to initiate the DTS number from your office (dts.up.edu.ph). Please contact ITDC for more information.
Section 25 (c) of the UP Charter (RA 9500) states that:
Importation of economic, technical, vocational, scientific, philosophical, historical and cultural books, supplies and materials duly certified by the Board, including scientific and educational computer and software equipment, shall be exempt from customs duties.
UP units requiring an importation that is governed by the said provision are requested to submit a Letter of Commitment to the Department of Finance through the UP Office of the President. Please follow the guidelines below: