Philippines Import & Export Toolkit

The Philippines is a major electronics and BPO exporter. This hub covers LC cost in PHP/USD, ATIGA/RCEP preferential duty, 12% VAT and Bureau of Customs (BOC) clearance under the CMTA.

Currency

PHP (Philippine Peso)

VAT

12% standard

Charged on CIF + duty + excise. Creditable for VAT-registered businesses.

Duty regime

MFN tariffs (0-65%) plus preferential rates under ATIGA, RCEP, ASEAN-China, ASEAN-Korea, PJEPA (Japan), Philippines-EFTA. Excise on autos, fuel, tobacco, sugary drinks.

Free calculators for Philippines trade

LC Cost Calculator →

All-in bank charges on a Letter of Credit.

Usance LC Interest →

Deferred payment cost with correct ACT/360 or ACT/365 basis.

Import Duty & Tax →

Duty, VAT/GST and landed cost per HS code.

Landed Cost by HS & Country →

Interactive duty + VAT/GST + Incoterm split for this destination.

CIF ↔ FOB Converter →

Convert between CIF, FOB and landed cost.

HS Code Lookup →

Search harmonised classification codes.

CBM & Container →

Volume, weight and container utilisation.

Incoterms 2020 Visualiser →

Cost, risk and document split across all 11 rules.

Multi-Currency Invoice →

FX spread and cross-currency invoice value.

Major ports & gateways

· Manila (North & South Harbour, MICT)
· Batangas
· Cebu
· Subic Bay
· Cagayan de Oro

Key trading partners· 7 linked toolkits

Top exports

· Electronics & semiconductors
· Machinery & transport equipment
· Coconut oil
· Bananas & tropical fruit
· Nickel ore
· Copper

Top imports

· Electronics (assembly inputs)
· Crude & refined petroleum
· Vehicles
· Iron & steel
· Cereals (rice, wheat)
· Machinery

Trade finance in Philippines

· PHP LC usance uses ACT/360 (following USD convention despite Commonwealth heritage).
· Philippine banks (BDO, Metrobank, BPI, LandBank) quote 0.15-0.30% per quarter for LC issuance.
· BSP (Bangko Sentral) rules require documentation for trade payments; advance payments >USD 1M require special reporting.

Customs & duty in Philippines

· Philippines uses AHTN 8-digit. Customs Modernization and Tariff Act (CMTA, RA 10863) governs clearance.
· E2M (Electronic-to-Mobile) is the customs clearance system. Form D (ATIGA) or RCEP CoO required for preferential duty.
· FDA, DOE, DENR permits required for regulated goods (drugs, fuels, chemicals).

Incoterms 2020 practice in Philippines

· CIF Manila is the dominant import term. FOB Manila / Batangas for exports.
· PEZA (Philippine Economic Zone Authority) locators can import duty & VAT-free for export production.

HS commodity guides for Philippines

Classification, duty and worked landed-cost examples for the commodity families most active on Philippines's trade lanes.

HS 85Electronics

HS Code for Electronics (Chapter 85) into Philippines →

HS 84Industrial

HS Code for Industrial Machinery (Chapter 84) into Philippines →

HS 72Metals

HS Code for Iron & Steel (Chapter 72) into Philippines →

HS 1006Agricultural

HS Code for Rice (HS 1006) into Philippines →

HS 2710Energy

HS Code for Petroleum Products (HS 2710) into Philippines →

HS 74Metals

HS Code for Copper (Chapter 74 & 2603) into Philippines →

HS 31Agricultural

HS Code for Fertilizers (Chapter 31) into Philippines →

HS 2709Energy

HS Code for Crude Oil (HS 2709) into Philippines →

Philippines's key trading partners

Singapore toolkit →

GST · 9% standard (from 2024)

China toolkit →

Import VAT · 13% standard, 9% reduced, 6% services

United States toolkit →

No federal VAT / GST · 0% federal

Japan toolkit →

Consumption Tax (JCT) · 10% standard / 8% reduced (food, newspapers)

South Korea toolkit →

VAT · 10%

India toolkit →

IGST on imports · 5% / 12% / 18% / 28%

Frequently asked questions

How is landed cost calculated in the Philippines?

Customs Value (CIF) → MFN or FTA duty → Excise (if applicable) → VAT @ 12% on (CIF + duty + excise). Add BOC processing fees and IPF (Import Processing Fee).