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PRESIDENTIAL DECREE NO. 1469
PRESIDENTIAL DECREE NO. 1469
- AMENDING SectionS 187 AND 202 OF THE NATIONAL INTERNAL REVENUE CODE,
AS AMENDED, AND PROVIDING FOR THE REGISTRATION OF EXPORT PRODUCES AND
TRADES WITH THE PHILIPPINE EXPORT COUNCILS
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WHEREAS,
the development and promotion of Philippine export is essential to
economic growth;chanroblesvirtualawlibrary
WHEREAS, there are many export producers which lack the facilities and
expertise necessary for direct exports; chanroblesvirtualawlibrary
WHEREAS, it is necessary to encourage these producers to sell to export
traders by extending to them the tax benefits available to direct
exporters under the National Internal Revenue Code, As amended:cralaw:red
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the republic of
the Philippines, by virtue of the powers vested in me by the
Constitution, do hereby decree:cralaw:red
Section 1. Section 187 of the National Internal
Revenue Code, as amended, is hereby amended by adding the following
definition of words and phrases:cralaw:red
"(y) 'Registered export producer' shall mean any
person, corporation, partnership, or other entity doing business in the
Philippines, (1) registered with Philippine Export Councils, (2)
engaged in the manufacture, production or processing of articles or
products for export in commercial quantity, and (3) directly exporting
its products, or selling them (a) to a registered export trader that
subsequently exports the said products, or (b) to another export
producer who utilizes said products as direct materials or input in
product subsequently manufactured or processed by them and thereafter
exported or (c) to foreign tourists, when paid for in acceptable
foreign currency and actually brought out of the Philippines by the
buyers upon their departure. chanroblesvirtualawlibrary
"(z) 'Registered export trader' shall mean any
person, corporation, partnership or other entity doing business in the
Philippines (1) registered with the Philippine Export Council and (2)
who is engaged in the buying of Philippine-made products and
subsequently exporting the same.
"(aa) 'Export sales' shall mean the Philippine port
F.O.B. value, determined from invoices, bills of lading, inward letters
of credit, landing certificates, and other commercial documents, of
export products exported directly by a registered export producer or
registered export trader, or the net selling price of export products
sold by a registered export producer to another export producer, or
registered export trader who subsequently exports the same, or the net
selling price of export products in acceptable foreign currencies sold
by a registered export producer or registered export trader to foreign
tourists and foreign travelers. Sales of export products to another
export producer or to a registered export trader shall only be deemed
export sales when actually exported by the latter."
Section 2. Section 202 of the National Internal
revenue Code is hereby amended by adding sub-paragraph (f) in the
enumeration of articles not subject to percentage tax on sales, as
follows: chanroblesvirtualawlibrary
"(f) Articles sold by `registered export producers'
to (1) other `registered export producers' (2) `registered export
traders' or (3) foreign tourists or travelers, which are considered as
`export sales'.
Section 3. Condition for Availment of Tax benefit. —
Any export producer or export trader who wants to avail of the tax
benefits extended to indirect exports under this Decree, must register
as such with the Philippine Export Council.
Section 4. Requirements for Registration. —
(a) Any export producer applying for registration
must show proof of the following:cralaw:red
1. He/it is actually engaged in the manufacture,
processing or production of articles or products for export;
and chanroblesvirtualawlibrary
2. His/its products meet the quality standards set by
the Bureau of Standards for such products.
(b) An export trader applying for registration must
show proof of his/its export operations indicating (a) the products or
potential products for exportation, (b) expected revenues and (c)
selling and administrative costs.
Section 5. Issuance of Certificate of registration:
Grounds for Revocation. — Upon qualification for registration, the
applicant export producer or export trader shall be issued the
corresponding certificate of registration by the Philippine Export
Council.
The certificate of registration shall be subject to revocation on any
of the following grounds: chanroblesvirtualawlibrary
1. Any violation of the provisions of this Decree or
the rules and regulations implementing the same;chanroblesvirtualawlibrary
2. Any violation of laws relating to taxation,
currency, immigration and national economy or security; or
3. Failure to meet the quality standards set by the
Bureau of Standards.
Section 6. The Secretary of Finance shall, upon the
recommendation of the Commissioner of Internal Revenue in consultation
with the Chairman/President of the Philippine Export Council,
promulgate the necessary rules and regulations for the effective
implementation of the provisions of this Decree.
Section 7. This Decree shall take effect upon
approval.
DONE in the City of Manila this
11th day of June, in the year of Our Lord, nineteen hundred and
seventy-eight.
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