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Philippines Confirms Tariff Cut for Whisky Firm.
Byline: Wichit Chantanusornsiri
Jun. 9--The Philippines has confirmed that Riche Monde's Spey Royal whisky meets local content regulations set under the Asean Free Trade Area agreement, said Chavalit Sethameteekul, director-general of the Customs Department.
Riche Monde this year shifted production of Spey Royal from Scotland to the Philippines. Concentrate is distilled, matured and blended in Scotland, and then sent to the Philippines for blending with water and caramel and final bottling.
The result allows Spey Royal to claim the right to pay import taxes of just 5 percent under Afta compared with 61 percent. Competitors had challenged Riche ...
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Source: HighBeam Research, Philippines Confirms Tariff Cut for Whisky Firm.