A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the
Chan Robles Virtual Law Library
PRESIDENTIAL DECREE NO. 1395
PRESIDENTIAL DECREE NO. 1395 -
AMENDING PRESIDENTIAL DECREE NO. 1352
|
chanroblesvirtualawlibrary
WHEREAS,
Presidential Decree No. 1352 was issued in accordance with the policy
enunciated under Presidential Decree No. 776 to rationalize and
harmonize the fiscal incentives granted under various existing laws for
purposes of conserving government revenues; chanroblesvirtualawlibrary
WHEREAS, in line with such policy, it is necessary to clarify and/or
amend the provisions thereof; and
WHEREAS, the importations of government agencies or instrumentalities
are governed by Presidential Decree No. 1177 and therefore need not to
be subject to the provision hereof;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtues of the powers vested in me by the Constitution, do hereby
decree;chanroblesvirtualawlibrary
Section 1. Presidential Decree No. 1352 is hereby
amended to read as follows: chanroblesvirtualawlibrary
"Sec. 1. All importations which are at present
totally or partially exempt from customs duties and/or internal revenue
tax under the provisions of any general or special law shall be subject
to a five (5%) percent customs duty and five (5%) percent internal
revenue tax, subject to the same limitations and conditions prescribed
under such law, if any.
"In the case of importations enjoying partial exemption, the said duty
and tax shall be imposed on the exempt portion in addition to the duty
and tax due on the taxable portion.
"The duty and tax imposed herein shall be computed in accordance with
the applicable provisions of the Tariff Customs Code of the Philippines
as amended, and the National Internal Revenue Code of 1977, as amended,
respectively.
"The customs duty and internal revenue tax imposed under this section
shall not apply to the following importations:cralaw:red
"1. Those which are exempt in pursuance of or in
compliance with international treaties or commitments, such as the
ADB-RP Host Agreement (1966); the 1947 Convention on Privileges and
Immunities of the United Nations and its specialized agencies; the
United States Agency for International Development-RP Agreement, the
1947 Military Bases Agreement; and other similar treaties or
commitments;chanroblesvirtualawlibrary
"2. Those which are exempt under the following
Presidential Decrees:cralaw:red
"(a) Presidential Decree No. 66;chanroblesvirtualawlibrary
"(b) Presidential Decree No. 87;chanroblesvirtualawlibrary
"(c) Presidential Decree No. 529;chanroblesvirtualawlibrary
"(d) Presidential Decree No. 215;chanroblesvirtualawlibrary
"(e) Presidential Decree No. 666; and
"(f) Presidential Decree No. 972.
"3. Importations of machinery, equipment and spare
parts shipped with such machinery and equipment made by enterprises
registered with the appropriate government agency, on or before April
21, 1978, under any tax incentive law, subject to the following
conditions; chanroblesvirtualawlibrary
"(a) That the importation has been authorized by the
appropriate government agency for the prosecution of specific projects
already approved by the said agency as of April 21, 1978; and
"(b) That the herein exemption shall not be
authorized beyond December 31, 1981.
"Sec. 2. The duty and tax imposed herein shall be
paid before the release of the imported articles from customs' custody.
"Where the corresponding tax incentive law authorized a deferral of the
duty and internal revenue tax due from registered non-pioneer
enterprises, the same privileges may be extended to registered pioneer
enterprises by the appropriate implementing government agency.
"Sec. 3. Unless otherwise provided by law, in the
case of importations subject to the five (5%) percent customs duty and
five (5%) percent internal revenue tax herein imposed which are
subsequently sold, transferred or exchanged to non-exempt persons or
entities, the purchaser shall be considered the importer thereof and
shall be liable for the differences between the full customs duty and
internal revenue tax due thereon based on the depreciated value of the
article at time of sale, transfer or exchange and the five (5%) percent
customs duty and five (5%) percent internal revenue tax previously
paid. The duty and tax due on such article shall constitute a lien on
the article itself, superior to all other charges or lien irrespective
of the possessor thereof.
"Sec. 4. The pertinent provisions of the following
laws are hereby repealed or amended accordingly; chanroblesvirtualawlibrary
"(a) Presidential Decree No. 218, as amended by
Presidential Decree No. 348;chanroblesvirtualawlibrary
"(b) Presidential Decree No. 413;chanroblesvirtualawlibrary
"(c) Presidential Decree No. 440;chanroblesvirtualawlibrary
"(d) Presidential Decree No. 535;chanroblesvirtualawlibrary
"(e) Presidential Decree No. 538;chanroblesvirtualawlibrary
"(f) Presidential Decree No. 634;chanroblesvirtualawlibrary
"(g) Presidential Decree No. 992;chanroblesvirtualawlibrary
"(h) Presidential Decree No. 1159;chanroblesvirtualawlibrary
"(i) Republic Act No. 720;chanroblesvirtualawlibrary
"(j) Republic Act No. 1370;chanroblesvirtualawlibrary
"(k) Republic Act No. 2640;chanroblesvirtualawlibrary
"(l) Republic Act No. 3470, as amended;chanroblesvirtualawlibrary
"(m) Republic Act No. 5186; as amended;chanroblesvirtualawlibrary
"(n) Republic Act No. 6135; as amended; and
"(o) Other general and special laws, and
special charters granting franchises.
"Sec. 5. The President may, in the interest of
national economic development, upon recommendation of the Fiscal
Incentives Review Board, restore any exemption benefit withdrawn under
this Decree."
Section 2. The Secretary of Finance shall, upon the
commendation of the Commissioner of Customs and in consultation with
the appropriate government agency, promulgate the necessary rules and
regulations for the effective implementation of the provisions of this
Decree. chanroblesvirtualawlibrary
Section 3. All laws, rules and regulations or parts
thereof inconsistent with the provisions of this Decree are hereby
repealed or amended accordingly.
Section 4. This Decree shall take effect upon
approval. However, any duty and internal revenue tax already paid on
importations mentioned in paragraph 3 of Section 1 hereof shall be
recomputed in accordance with the provisions of this Decree.
Done in the City of Manila,
this 31st day of May, in the year of Our Lord, nineteen hundred and
seventy-eight.
|
Back
to Home
- Back
to Main
chanroblesvirtuallawlibrary
Since 19.07.98
|