THE PHILIPPINES WILL INCREASE TAX ON IMPORTED RICE TO 20% IN JANUARY 2026

This move comes as the government prepares to resume rice importation next year, which is currently suspended to protect the income of local rice farmers (unmilled rice) during the rainy season harvest. "The tax increase reflects several realities—the recent depreciation of the peso (Philippine currency) and the likelihood of higher global prices once the Philippines rejoins the market," DA Secretary Francisco Tiu Laurel Jr. said in a statement on Tuesday. The DA will also waive the usual 10% pre-payment requirement for the Sanitary and Phytosanitary Import Clearance (SPIC) License to alleviate the cash flow pressure on rice importers. The Bureau of Plant Industry (BPI) will also begin processing SPIC registrations to accommodate the import volume of 500,000 metric tons, including 50,000 metric tons allocated for government agencies. Mr. Tiu Laurel also urged domestic rice importers to "diversify" their suppliers and consider other international sources. "Instead of relying almost ...