Taiwan’s Executive Yuan Approves Temporary Tariff Reduction on Imports of Pharmaceutical Alcohol Ingredients

Due to COVID the demand for alcohol for epidemic prevention continues to rise. In support of such needs, Taiwan is lowering the import cost of ingredients of pharmaceutical alcohol to keep epidemic prevention commodities well supplied.

Taiwan’s Ministry of Finance issued a release announcing that the Executive Yuan approved a continuous temporary reduction of tariff on ingredients of pharmaceutical alcohol from 20% to 10% for a six-month period from February 27, 2021.

The implementation of the reduction will be reviewed periodically, based on the progress of epidemic prevention and the market supply and demand for the commodity.

Source: The Ministry of Finance of Taiwan