Tag Archives: Philippines

Tax-Free Importation and Other Incentives for Medicine and Medical Supplies/Equipment to Combat COVID-19

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A number of products critical to the fight against the Coronavirus Disease 2019 (COVID-19) are now EXEMPT from the payment of import duties, taxes and fees (see Guidelines). Per the Joint Administrative Circular No. 2020-02 of the Department of Finance (DOF) and the Department of Trade and Industry (DTI), the following are entitled to such exemption: 

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Social Amelioration Programs for the Community Quarantine by Reason of COVID-19

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To streamline and harmonize the various social amelioration programs of the government, in order to mitigate the socio-economic impact of the COVID-19 health crisis during the Community Quarantine, the responsible government agencies released Joint Memorandum Circular No. 1. This is pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives. The full list of social amelioration programs [see also Emergency Subsidy Program (ESP) and Second Tranche of SAP benefits], under the circular are as follows:

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Target Beneficiaries of the Government Social Amelioration Program for COVID-19

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The responsible government agencies released Joint Memorandum Circular No. 1 for the social amelioration programs (see List of Social Amelioration Programs; Second Tranche) implemented pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives. The Emergency Subsidy Program (ESP) is a social amelioration program to provide cash or non-cash subsidy to 18 million household beneficiaries, in the amount of at least P5,000 to a maximum of P8,000 per month, for 2 months (see Emergency Subsidy Program). The target beneficiaries, per the Joint Memorandum Circular No. 1, are families that belong to either the poor or informal sector which are at risk of not earning a living during the Enhanced Community Quarantine, who may have at least one (1) member belonging to any of the following vulnerable or disadvantaged sectors (see documentary requirements):

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Food and Non-Food Items (FNI) Distribution during the Enhanced Community Quarantine

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The Philippine government has lined up a number of social amelioration programs designed to mitigate the socio-economic impact of the Coronavirus Disease 2019 (COVID-19) health crisis during the Enhanced Community Quarantine (ECQ), pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives. One the social amelioration programs (see List of Social Amelioration Programs) is the Food and Non-Food Items (FNI) distribution. The guidelines provided in the Joint Memorandum Circular No. 1 are as follows:

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Recovery Package for Micro and Small Enterprises Engaged in Agriculture and Fisheries Food Production, and other Supply Chain Activities

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The government has rolled out a number of social amelioration programs in order to mitigate the socio-economic impact of the COVID-19 health crisis during the Enhanced Community Quarantine (ECQ), pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives. Among the social amelioration programs (see List of Social Amelioration Programs) provided in Joint Memorandum Circular No. 1 is the Recovery Package for Micro and Small Enterprises Engaged in Agriculture and Fisheries Food Production, and other Supply Chain Activities in Accordance with the Agripreneurship Development Fund/Program of the ACPC. 

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Moratorium on Loan Payments of Small Business Corporation Borrowers under Community Quarantine

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The Pondo sa Pagbabago at Pag-Asenso (P3) is a financing program established by Small Business Corporation for micro enterprises with an asset not exceeding Three Million Pesos (PhP 3,000,000.00) at not more than 2.5 percent per month all-in interest rate and service charges. One of the social amelioration programs (see List of Social Amelioration Programs) is the moratorium on loan payments of Small Business Corporation borrowers. This is contained in Joint Memorandum Circular No. 1, issued pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives, designed to mitigate the socio-economic impact of the Coronavirus Disease 2019 (COVID-19) health crisis during the Enhanced Community Quarantine.

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Expanded and Enhanced Pantawid Pamilyang Pilipino Program (4Ps) during the COVID-19 Community Quarantine

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The social amelioration programs of the government (see List of Social Amelioration Programs) are consolidated under Joint Memorandum Circular No. 1, issued pursuant to the Bayanihan to Heal as One Act (Republic Act No. 11469) and its Implementing Directives. These programs are designed to mitigate the socio-economic impact of the Coronavirus Disease 2019 (COVID-19) health crisis during the Community Quarantine.

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Material Information: Concept / Treatment under the Securities Regulation Code of the Philippines

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A material fact or information, as defined in the 2015 SRC Rules, refers to any fact or information that may result in a change in the market price or value of any of the Issuer’s securities, or may potentially affect the investment decision of an investor. Material information shall include, but not be limited to, the following: 

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