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The 1991 Foreign Investments Act (FIA), as amended by Republic Act 8179, provides for the formulation of a Foreign Investment Negative List (FINL), which enumerates economic activities in which foreign equity is either prohibited or limited to a certain percentage, including exploration and utilization of natural resources and deep sea fishing

Most imports, like domestically produced goods, are subject to a VAT rate of 12% (increased from 10% in January 2006), except the sale and purchase of bio-organic products and coal, and petroleum products

Imports of certain goods are prohibited under the Tariff and Customs Code and various other laws, including dangerous chemicals to the environment such as chlorofluorocarbons (CFCs), halons, and carbon tetrachloride (CTC) and hazardous wastes

The import licensing regime is regulated by the Tariff and Customs Code of 1978 (Presidential Decree No. 1464), as amended, and Appendix 2 of the Manual of Regulations on Foreign Exchange Transactions and is intended, inter alia, to meet international treaty obligations regulating certain products such as ozone depleting substances, wildlife species and hazardous substances

The Philippine Accreditation Office (PAO) handles the accreditation of certification bodies, including the certification bodies for Environmental Management System and Hazardous Analysis Critical Control Point, inspection bodies, testing and calibration laboratories, and medical laboratories

Imports of agricultural products, live animals, plants, fish, their products and by-products must be accompanied by a sanitary, phytosanitary or health certificate from the country of origin, and are subject to inspection upon arrival, but imports are prohibited from certain countries on grounds of Avian Influenza

All imported plants and plant products of genetically modified (GM) origin must be authorized by the Bureau of Plant Industry and must be accompanied by a certificate of GMO content issued by an authorized body from the country of origin or by an accredited laboratory

Only plantation (non-native) logs are subject to an export tax (20% of f.o.b.) in order to ensure an adequate, stable, and sustainable supply of domestic timber

Prohibited and regulated exports include endangered wildlife species and live animals, and naturally growing timber on grounds of environmental reasons and in fulfilment of international agreements and conventions, such as CITES

The Department of Agriculture monitors prices of various products, including fertilizer (chemical and organic), pesticides, and herbicides, while the Department of Environment and Natural Resources monitors prices of firewood, charcoal, plywood, plyboard, nipa shingles, and sawali